A maturing market amid the mayhem
Healthcare index stays firm
Ranbaxy Labs was up 4.5 percent while other stocks like IPCA Labs, Sun Pharma and Cipla posted decent gains.
Natco Pharma jumped 20 percent to close at 113.35 rupees after yesterday’s rise of nearly 19 percent. The stock which has gained 42 percent in just two trading sessions, also hit its 52-week high on Wednesday.
Several stocks in this sector rose on Tuesday after Ranbaxy Laboratories, Strides Arcolab and Cipla expressed readiness to meet the expected demand for Tamiflu, which is used to treat H1N1 infections.
The healthcare index however has been a quiet mover recently. It has gained just 30 percent this year and 36 percent since April, a time when most other sectoral indices have rallied.
In view of the recent rally in some pharma stocks, do you think it would be ideal to invest in this sector now?