Pharma stocks rally; Nifty Pharma index surges 10%, Ipca Labs hits new high

Shares of pharmaceutical providers rallied on Tuesday with the Nifty Pharma index surging 10 for each cent as the government lifted the curbs on exports of 13 active pharmaceutical components (APIs) and their formulations. The index experienced rallied five for each cent in the prior session also.

The ban on export of hydroxychloroquine (HCQ) — claimed to be helpful to address coronavirus (COVID-19) — may possibly also be lifted, Business enterprise Typical claimed in a report.

At 11:37 am, Nifty Pharma — the major gainer between sectoral indices — was up 10 for each cent at 8,095, as compared to five.two for each cent rise in the Nifty 50 index. In the earlier two trading times, the pharma index has risen fifteen for each cent, in opposition to three for each cent get in the benchmark index.

Amongst individual stocks, Cadila Health care, Dr Reddy’s Laboratories, Aurobindo Pharma, Cipla, Glenmark

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