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Shares of select pharmaceutical companies Sun Pharma Advanced Research Company (SPARC), Wockhardt, GlaxoSmithKline Pharmaceuticals, Indoco Remedies and Natco Pharma have rallied between 5-10% on back of heavy volumes in otherwise subdued market on BSE.
At 13:29 hours, S&P BSE Healthcare index, the largest gainer among sectoral indices, was up 1% or 113 points as compared to 0.40% or 114 points decline in the benchmark S&P BSE Sensex.
SPARC has surged 10% to Rs 200 after the company announced that the U.S. Food and Drug Administration (FDA) has issued a complete response letter to its New Drug Application (NDA) for Latanoprost BAK-free eyedrops.
The stock hit a high of Rs 209 in early morning deals and has seen over ten-fold jump in trading volumes. A combined 4.57 million shares representing 2% of total equity of the company changed hands so far.
Wockhardt rallied over 8% to Rs 929, on back of three-fold rise in trading volumes on BSE. The stock hit a 52-week high of Rs 939 in intra-day trade and has seen a combined 4.55 million shares changing hands on the counter on NSE and BSE.
The stock gained 12% in past three trading sessions from Rs 828 after the NSE included the company in its futures & options (F&O) segment from November 28.
Among the other individual stocks, GlaxoSmithKline Pharmaceuticals has surged 7% to Rs 3,180, followed by Indoco Remedies and Natco Pharma, which are up 5% each at Rs 308 and Rs 1,409 respectively.
Aurobindo Pharma, Torrent Pharmaceuticals, Cadila Healthcare, Glenmark Pharmaceuticals, Biocon, Strides Arcolab, Ipca Laboratories and Ranbaxy Laboratories up 1-3%.
At 13:29 hours, S&P BSE Healthcare index, the largest gainer among sectoral indices, was up 1% or 113 points as compared to 0.40% or 114 points decline in the benchmark S&P BSE Sensex.
SPARC has surged 10% to Rs 200 after the company announced that the U.S. Food and Drug Administration (FDA) has issued a complete response letter to its New Drug Application (NDA) for Latanoprost BAK-free eyedrops.
The stock hit a high of Rs 209 in early morning deals and has seen over ten-fold jump in trading volumes. A combined 4.57 million shares representing 2% of total equity of the company changed hands so far.
Wockhardt rallied over 8% to Rs 929, on back of three-fold rise in trading volumes on BSE. The stock hit a 52-week high of Rs 939 in intra-day trade and has seen a combined 4.55 million shares changing hands on the counter on NSE and BSE.
The stock gained 12% in past three trading sessions from Rs 828 after the NSE included the company in its futures & options (F&O) segment from November 28.
Among the other individual stocks, GlaxoSmithKline Pharmaceuticals has surged 7% to Rs 3,180, followed by Indoco Remedies and Natco Pharma, which are up 5% each at Rs 308 and Rs 1,409 respectively.
Aurobindo Pharma, Torrent Pharmaceuticals, Cadila Healthcare, Glenmark Pharmaceuticals, Biocon, Strides Arcolab, Ipca Laboratories and Ranbaxy Laboratories up 1-3%.
