Money on the markets
A maturing market amid the mayhem
Shares in Cipla fell more than 6 percent on Monday to close at 319 rupees, even as the BSE Sensex surged 561 points.
Shares of the drugmaker tumbled as its March quarter net profit, announced on Friday, were below estimates.
Overall the healthcare space too remained weak, with the sectoral index ending marginally down.
Healthcare index was the only one that ended in red in an otherwise strong market. The index has gained 4.7 percent since mid-March, far higher than the near 1 percent gain in the Sensex.
Shares of healthcare companies traded firm on Thursday, helping push the sectoral index up 1.4 percent to the top of the gainers’ list.
Ranbaxy Labs gained 3.3 percent and ended as the top gainer in the healthcare index. Cipla and Sun Pharma were also among the shares that clocked decent rises.
Dr. Reddy’s shares jumped over 10 percent, Orchid Chemicals gained over 9 percent, and Aurobindo Pharma rose over 8 percent.