BSE Healthcare index hits 52-week high, zooms 36% from March low

Dr Reddy's Laboratories, Cipla, and seven other frontline pharma stocks have hit their respective 52-week highs in the past one week

Shares of pharmaceutical companies continued their rally with the S&P BSE Healthcare index hitting fresh 52-week high on the BSE on the back of positive developments in the sector even as most brokerages don't see a meaningful adverse impact of coronavirus (COVID-19) lockdown on the companies' earnings.

The S&P BSE Healthcare index hit 52-week high of 14,854 points on Monday, surging 36 per cent in the last three weeks. In the last 12 trading days, the healthcare index has erased its entire losses of the year 2020. The index hit a 52-week low of 10,948, touched in intra-day trade