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BUZZ-Indian pharma stocks see relief rally; index up 3 pct
August 24, 2017 / 9:09 AM / 4 months ago

BUZZ-Indian pharma stocks see relief rally; index up 3 pct

** Shares of Indian pharmaceutical companies such as Cadila Healthcare, Lupin Ltd and Sun Pharmaceutical Industries gain between 4.10 pct and 8.9 pct

** Nifty Pharma index rises 3.1 pct

** Investors are buying after several weeks of decline - analysts

** As of Wednesday’s close, Lupin shares were down 6.1 pct since the company reported its June-qtr results on Aug 2

** Shares of Sun Pharmaceutical Industries had lost 25.5 pct this year as of Wednesday’s close

** More than 3.4 mln Cadila shares changed hands, compared with the 30-day average of around 1.2 mln shares

** As of Wednesday’s close, Nifty Pharma index was down 8.9 pct compared with the NSE index’s 2.3 pct fall from a record high hit on Aug 2

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