Friday, July 10, 2020

Pharma stocks gain drove by Sun Pharma, Biocon; Aurobindo Pharma hits new 52-week high

The Indian financial exchange is exchanging level as infection cases keep on flooding. Sensex is down 31.67 focuses or 0.09 percent at 36706.02 while the Nifty shed 6.30 focuses or 0.06 percent and is holding over the 10800 imprint.  Among the segments, the pharma record included over a percent drove by Sun Pharma which increased 3 percent. It was additionally the top file gainer.The different entertainers included Biocon which increased 2 percent.
Aurobindo Pharma share price hit fresh 52-week high of Rs 828.45 per share on BSE after the company received US FDA nod for Chlorpromazine Hydrochloride injection used to reduce psychotic symptoms - hallucinations and delusions.
The other gainers included Cipla, Dr Reddy's Labs, Divis Labs and Torrent Pharma which added 1-2 percent each.
Dr Reddy’s Labs in a filing to the exchanges said that it has received US FDA nod for Prasugrel Hydrochloride tablets used to prevent formation of blood clots.
Research and brokerage firm ICICI Securities has a buy on Aurobindo Pharma with target of Rs 920 per share. It feels that things are looking much more promising at the beginning of FY21 for the company with respite for unit IV, a strong set of Q4 numbers and stable outlook.
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