Pharma Stocks Dr Reddy’s, Cipla, Lupin Lead Gains in Weak Market

Major pharma companies like Cipla, Lupin and Dr Reddy’s share price saw gains of 1-4% on December 19, standing out in a generally weak market. 

Other pharma stocks, such as Laurus Labs, JB Pharma, Ipca Labs, Aurobindo Pharma, Abbott India, Natco Pharma, and Glenmark, also rose by 1-5%. These broad-based gains helped lift the Nifty Pharma index by over 1%, making it the only sector to see positive movement on the day.

Dr Reddy Share Price Gains

Dr Reddy share price is trading at ₹1,325.45, up by ₹50.05, or 3.92%, today. Despite the overall market being down, the stock was the top performer on the Nifty 50.

In the past 5 days, the stock has gained ₹88.45, or 7.15%, reaching ₹1,325.45. Over the past month, it has increased by ₹112.00, or 9.23%. Looking at the past year, Dr Reddy’s shares have surged by ₹197.96, marking a 17.56% growth. 

Lupin and Other Drugmakers See Boost

Lupin share price also saw a rise after receiving approval from the US FDA for its generic HIV drug. The company shares are trading at ₹2,152.50, up by ₹53.40 (2.54%) as of 2:05 pm on December 19. The stock opened at ₹2,108.45, reached a high of ₹2,090.00, and a low of ₹2,079.20.

In addition, the prospects for contract drug manufacturers like Laurus Labs and Gland Pharma improved, driven by expectations of higher tariffs on China, which could benefit Indian firms.

Strong Growth Expected in Indian Pharma

The Indian pharmaceutical market is expected to continue its strong growth, especially during the winter season. This outlook helped lift shares of domestic companies like JB Chemicals and Ipca Labs, which surged around 4%.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.