Pharma stocks jumped up to 20% on Monday, led by strong buying momentum across the sector, despite a weak sentiment in the broader Indian stock market. The rally in pharma stocks lifted the Nifty Pharma index by 1.65%.
Torrent Pharmaceuticals and Mankind Pharma were the top gainers on the Nifty Pharma index with more than 3% rally each. Cipla, Divi’s Laboratories, Laurus Labs, Alkem Laboratories and Sai Life Sciences shares rose over 2% each, while Zydus Lifesciences, Aurobindo Pharma and Ajanta Pharma shares witnessed gains of over 1%.
Among other pharma stocks, RPG Life Sciences, Thyrocare Technologies, Hester Biosciences, Onesource Specialty Pharma and Neuland Laboratories shares surged up to 7%.
Additionally, Tatva Chintan Pharma Chem share price jumped 20% to hit a fresh 52-week high of ₹1,714.10 apiece on the BSE, after strong Q1 results.
