Nifty Pharma index slips 5%, records sharpest intra-day fall in 7 months

Alembic Pharma and Dr Reddy's Labs plunged 12% and 11%, respectively in intra-day trade post their June quarter results

Shares of pharmaceutical companies were under pressure, with the Nifty Pharma index falling 5 per cent on the National Stock Exchange (NSE) in intra-day trade on Tuesday after Dr Reddy’s Laboratories and Alembic Pharmaceuticals reported a disappointing set of numbers for the quarter ended June 2021 (Q1FY22).

At 02:27 pm, Nifty Pharma, the top loser among sectoral indices, was down 5.1 per cent as compared to a 0.69 per cent decline in the Nifty50 index. The pharma index slipped as much as 5.25 per cent to record its sharpest intra-day fall during the current calendar year 2021. Earlier, on December 21,