The decline in pharma stocks followed comments from President Donald Trump, who indicated that the US may impose tariffs of around 25 per cent on pharmaceutical, automobile, and semiconductor imports
The company's Q3 profit increased 16 per cent year-on-year (Y-o-Y) to Rs 360.78 crore as compared to Rs 310.98 crore
The surge in Abbott India share price followed reports that JPMorgan, a New York-based financial services firm, raised its target price to Rs 31,500, up from Rs 30,000, signaling an upside of 12%
Individually, Cipla soared up to 3.68 per cent to hit an intraday high of Rs 1,547.70 per share, while Sun Pharma soared up to 3.30 per cent to hit an intraday high of Rs 1,791.60 per share