Pharma stocks surge; Sun Pharma top the chart

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S&P BSE Healthcare index was trading up by nearly 2% at 14201.99, at 12.06 on Thursday, while Sun Pharma was the top contributor to the gains on the index. Rising competitive rivalry and customer consolidation in pharma industry have been leading to pricing pressure, believe market experts. The firm has lost 50% market value in the last two years, due to competition.

The stock has attracted the trading volume of 55,83,381shares and traded value of Rs 292.47 crore as of 12.22 hours on the NSE.

Caplin Point Laboratories Limited, Dr Reddy’s Laboratories Limited, Sun Pharmaceutical Industries Limited, Natco Pharma Limited, Wockhardt Limited, Lincoln Pharmaceuticals Limited were trading in green.

Cadila Healthcare has overtaken Lupin in terms of market capitalisation to become second most valued pharma company in the market.

Meanwhile, Anuh Pharma Limited, Poly Medicure Limited, Opto Circuits Limited, Morepen Laboratories Limited, Unichem Laboratories Limited were among stocks trading in the red.

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