Pharma stocks gain for second straight day; Sun Pharma surges 12% in 2 days

According to CARE Ratings, pharma exports from India are estimated to rise by about 11 to 12 per cent on a year on year.

Shares of pharmaceutical companies were trading higher for the second straight day in an otherwise weak market. Sun Pharmaceutical Industries, Cipla, Dr Reddy’s Laboratories, Glenmark Pharmaceuticals, Aurobindo Pharma, Lupin, Indoco Remedies, FDC, Shilpa Medicare and Caplin Point Laboratories from the Nifty Pharma and S&P BSE Healthcare index were up in the range of 3 per cent to 6 per cent at the bourses.

At 11:33 am, Nifty Pharma index, the sole gainer among the sectoral indices, was up 2.3 per cent, as compared to a 0.37 per cent decline in the Nifty50 index. In the past two days, pharma index has