Most pharma stocks traded in the red during Friday’s session, with the Nifty Pharma index falling 2.19% at 21,854.15. Dr. Reddy’s Laboratories led the decline, shedding over 5.20%, followed by Mankind Pharma, which also posted significant losses.
Amongst the major losers in the Nifty Pharma stocks, Dr. Reddy’s Laboratories saw the steepest decline, dropping 5.15% to Rs 1,222.95, while Mankind Pharma traded lower by 4.76% at Rs 2,509.50. Glenmark Pharmaceuticals was down 4.34%, trading at Rs 1,445.45, followed by IPCA Laboratories, which dipped 4.28% to Rs 1,515.85. Alkem Laboratories also faced losses, trading 3.11% lower at Rs 5,022.45.
Out of the 20 Nifty Pharma stocks, 19 traded in the red during Friday’s session. The sole gainer was Laurus Labs, with its share price rising by 4.09% to Rs 609.10 apiece.
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Other losers included Natco Pharma, which dropped 3.65% to Rs 1,253.65, and Ajanta Pharma, which lost 3.47%, trading at Rs 2,795.50. Other notable decliners in the Nifty Pharma list were Zydus Lifesciences, Alkem Laboratories, Glenmark Pharmaceuticals, Cipla, Granules India, Aurobindo Pharma and so on.
One of the significant contributor to loss was Dr. Reddy’s Laboratories, which reported its Q3FY25 results. While the company announced a 2% increase in net profit, reaching Rs 1,413 crore for the quarter ended December 31, 2024, its stock closed in the red during the previous trading session following the announcement.
Nifty Pharma Performance
Over the past 5 days, Nifty Pharma declined by 0.41%, closing at 21,872.40.In the last month, the index dropped by 3.04%, a loss of 686.50 points. Over the past 6 months, Nifty Pharma has gained 4.61%, adding 963.90 points to its value.
On a yearly basis, the index surged by an 23.13%, recording a gain of 4,108.70 points.
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