At 09:48 am, the S&P BSE Healthcare index, the top gainer among sectoral indices, was up 2.9 per cent at 20,282 points, as compared to 0.4 per cent rise in the S&P BSE Sensex. The healthcare index hit a record high of 20,294 in intra-day trade today.
In a positive development for Lupin
and Cipla, Perrigo has announced a voluntary recall of its albuterol sulphate inhalation aerosols in the US over concerns that some units may not dispense properly due to clogging issues. Shares of Lupin
rallied 7 per cent to Rs 1,107, while Cipla
surged 5 per cent to Rs 790 on the BSE.
Dr Reddy's hit a fresh record high of Rs 5,090, up 6 per cent, after the company entered into a settlement agreement with Celgene Corp. In the past three days, the stock has gained 15 per cent after the firm said it has been roped-in by Russia-based Russian Direct Investment Fund (RDIF) to distribute 100 million Covid-19 vaccine doses in India.
Laurus Labs, too, hit a fresh record high of Rs 1,480 after rising 5 per cent tday. The stock has rallied 18 per cent thus far in the current week on expectation of strong earnings in July-September quarter (Q2FY21). The pharmaceutical company's stock was trading higher for the tenth straight day.
Meanwhile, the stock of Laurus Labs
will turn ex-date for 1:5 stock split on September 29, 2020. The company's board of directors has fixed September 30, 2020, as the record date for the sub-division of equity shares of the company from the existing face value of Rs 10 each to Rs 2 each. The company announced, on April 30, its stock split plan to make the stock more affordable for the small retail investors and increase liquidity.