Pharma shares on a roll, BSE Healthcare index hits record high

Posted On 07 Oct 2013
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Shares of pharmaceutical companies are on a roll with the Bombay Stock Exchange (BSE)  index hits a record high today on hopes of higher revenue growth in September quarter due to fall in rupee’s value during the quarter.

Glenmark Pharmaceuticals, Ranbaxy Laboratories, Lupin, Divi’s Laboratories, , Dr Reddy’s Laboratories, Sun Pharmaceutical Industries, Aurobindo Pharma, Wockhardt and Biocon are up 1-5% on the BSE.

The BSE healthcare index, the largest gainer among the sectoral indices, was up 1% at 9,665 points as compared to 0.90% fall in the benchmark index at 1200 hours. The healthcare index hit a record high of 9,679 in intra-day trades.

Analyst expects Sun Pharma, Lupin, Dr Reddy’s Laboratories, and Cadila Healthcare will witness higher growth from US due to depreciating rupee as they have more than 40% revenues coming from exports.

Read the source article at Business Standard

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