D-Street Buzz: Pharma bucks the trend, 6 stocks hit fresh 52-week highs

The BSE Healthcare index emerged as the lone sectoral index that ended positive with a gain of 1.43%
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Bucking the trend in the market, a majority of pharma stocks ended with gains on January 27, with shares of Divi’s Labs, Dr. Reddy’s Labs, Dr. Lal PathLabs, Laurus Labs, Suven Life Sciences and Apollo Hospitals hitting their fresh 52-week highs on BSE.The BSE Healthcare index emerged as the lone sectoral index that ended positive with a gain of 1.43 percent. As may as 44 stocks in the index closed in the green, while 25 closed in the red.Shares of Wockhardt logged a strong gain of 18 percent and ended as the top gainer of the index, buoyed by the company’s December quarter numbers.The company reported a consolidated profit of Rs 9.6 crore against loss of Rs 71.1 crore YoY.The drugmaker announced on January 17 that the country’s drug regulator had allowed it to market Emrok IV and Emrok (oral) to treat acute bacterial skin infections, including diabetic foot infection, caused by the superbug methicillin-resistant staphylococcus aureus (MRSA). Their launch will be primarily used on critically-ill patients.Shares of Albert David surged 11 percent while those of IOL Chemicals and Strides Pharma Science jumped up to 9 percent.Shares of Sun Pharma Advanced Research Company, Marksans Pharma and Dr. Reddy’s Labs jumped over 5 percent each.Shares of Dr. Reddy’s Labs jumped 5.31 percent even as the company posted a loss of Rs 569.7 crore in Q3FY20 due to impairment of non-current assets including generic Nuvaring drug.Among the losers, shares of Medicamen Biotech fell 3.82 percent, followed by Biocon (down 2.26 percent), Take Solutions (down 2.20 percent), Granules India (down 1.94 percent) and Vivimed Labs (down 1.81 percent).Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app. First Published on Jan 27, 2020 04:12 pm

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