Pharmaceutical stocks are on roll with most of the frontline stocks trading higher in the range of 1-5% in otherwise weak market on the Bombay Stock Exchange (BSE).
Aurobindo Pharma, Wockhardt, Sun Pharmaceutical Industries, Ranbaxy Laboratories, Lupin and Dr Reddy’s Laboratories are up 1-5% on the BSE.
At 1230 hours, S&P BSE has surged 143 points or 1.2% compared to 0.83% or 200 points fall in benchmark index S&P BSE Sensex.
Aurobindo Pharma, the largest gainer among pharma pack, has rallied 5% to Rs 700 on back of heavy volumes. The stock opened at Rs 663 and hit a high of Rs 708 so far.
The overseas investors are continuously buying equity shares of Aurobindo Pharma from the open market. Foreign institutional investors (FIIs) holdings in pharmaceutical company touch almost seven-year high to 27.59% in June quarter.
FIIs held 23.74% stake in the company in March quarter, purchased an additional 3.85 percentage point stake in June quarter. They held 12.45% stake in the company at the end of September 2012 quarter.
FIIs also raised their holdings in Ranbaxy Laboratories, Biocon and Natco Pharma in June quarter, the shareholding pattern data shows.
Aurobindo Pharma, Wockhardt, Sun Pharmaceutical Industries, Ranbaxy Laboratories, Lupin and Dr Reddy’s Laboratories are up 1-5% on the BSE.
At 1230 hours, S&P BSE has surged 143 points or 1.2% compared to 0.83% or 200 points fall in benchmark index S&P BSE Sensex.
Aurobindo Pharma, the largest gainer among pharma pack, has rallied 5% to Rs 700 on back of heavy volumes. The stock opened at Rs 663 and hit a high of Rs 708 so far.
The overseas investors are continuously buying equity shares of Aurobindo Pharma from the open market. Foreign institutional investors (FIIs) holdings in pharmaceutical company touch almost seven-year high to 27.59% in June quarter.
FIIs held 23.74% stake in the company in March quarter, purchased an additional 3.85 percentage point stake in June quarter. They held 12.45% stake in the company at the end of September 2012 quarter.
FIIs also raised their holdings in Ranbaxy Laboratories, Biocon and Natco Pharma in June quarter, the shareholding pattern data shows.
