Pharma stocks in focus; Ajanta Pharma, Alembic Pharma hit 52-week highs

Divis Lab hit a new high of Rs 2,080 after the company said it has commenced commercial operations effective from February 5, 2020 from a part of the DC-SEZ Unit in Telangana.

Shares of pharmaceutical companies were in focus on Thursday with Granules India, Divis Laboratories, JB Pharmaceuticals and Chemicals, Ajanta Pharma, and Alembic Pharmaceuticals from the BSE Healthcare index hitting 52-week highs on the BSE after reporting good set of numbers for the quarter ended December 2019 (Q3FY20) and positive corporate announcements.

Among individual stocks, Ajanta Pharma soared 11 per cent to Rs 1,323 after the company reported 61 per cent year-on-year (YoY) jump in its net profit at Rs 108 crore for Q3FY20. The specialty pharmaceutical formulation company had posted profit of Rs 67 crore in the year-ago period.