Pharma shares in focus; Alkem, Divi's Lab, Syngene hit record highs

Thus far in the financial year 2021-22 (FY22), the S&P BSE Healthcare index has rallied 24 per cent, as against 9 per cent gain in the S&P BSE Sensex

Shares of pharmaceutical companies were in demand in Friday's session, with stocks of Alkem Laboratories, Divi's Laboratories and Syngene International rallying up to 14 per cent to hit record highs on BSE amid expectation of strong earnings for the quarter ended June 2021 (Q1FY22), helped by low base last year and strong demand led by the pandemic.

Besides these three stocks, Glenmark Pharmaceuticals, Wockhadart, Alembic, Indoco Remedies, Jubilant Pharmova and Gland Pharma were up between 2 per cent and 4 per cent on the BSE.

At 10:01 am, the S&P BSE Healthcare index was up 1 per cent, as compared to a