Orchid Pharma shares were locked in the upper circuit for the 96th straight trading day
Earnings are expected to grow over 25 per cent over the next two years
The Nifty Pharma index was down 1.76 per cent on Friday compared to a 568-point or nearly 3.8 per cent slide in the Nifty50 on weak global cues
Among individual stocks, Lupin zoomed 3.4 per cent in the intra-day trade and hit a high of Rs 1,060, Sun Pharmaceuticals advanced 2 per cent, and Dr Reddy's Labs gained 1.7 per cent.
Growth led by power brands and new launches could recover as pandemic impact wanes
Given the focus on volume growth and price cuts margin pressures may remain
Core hospital segment too is looking up on the back of rise in occupancies, footfalls
Much of the increase in this year's Budget allocation for health and well-being is attributed to expenditure set aside for Covid-19 vaccination
Motilal Oswal Securities said Alembic Pharma missed Q3FY21 earnings estimate, weighed by lower-than-expected sales in the US
This should reverse the US underperformance in FY15-20 with margins too moving up sharply
Sources said that the hospital chain is targeting large Domestic Mutual Funds, Sovereign Funds
Healthcare companies to post decent growth in revenues in Q3FY21
Sharp re-rating has turned the stock into the most expensive in the pharma space
Margin expansion to support profits, clean regulatory track record to help sustain growth journey
Cipla, Cadila Healthcare, Lupin, Sun Pharma and Aurobindo Pharma from the Nifty Pharma index were up in the range of 1 per cent to 2 per cent on the NSE
On Wednesday, Lupin announced in a BSE filing that its dispute with the sellers in the Gavis and Novel transaction has been resolved amicably to the satisfaction of all parties.
Margin gains in the September quarter too are expected to continue
Dishman Carbogen Amcis, Ipca Lab, SPARC, Caplin Point Laboratories, Dr. Lal PathLabs and Granules India from the S&P BSE Healthcare index were up in the range of 4 per cent to 5 per cent on the BSE
The market expects a strong bounce in earnings growth in FY22 with a growth of more than 30 per cent on a YoY basis.
On the other hand, PSU stocks and banks have been laggards - with ONGC, Indian Oil, IndusInd Bank, and Coal India delivering the worst returns.