Pharma index hits record high as govt launches phase 3 of Covid vaccination

Cipla, Gland Pharma, JB Chemicals and Pharma, Max Healthcare, Neuland Lab and Apollo Hospital from BSE Healthcare index hit their respective record highs today

Shares of pharmaceutical companies are in demand at the bourses with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to spike in demand for Covid-related drugs.

Individually, Cipla, Gland Pharma, JB Chemicals and Pharmaceuticals, Max Healthcare, Neuland Laboratories and Apollo Hospital Enterprises hit their respective record highs today. Menawhile, Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.

Investors rushed