Pharma companies gain on defensive buying

Shares of Indian pharmaceutical companies perceived as defensive gain on risk aversion after overseas investors sold 2.67 billion rupees worth of Indian shares on Friday, extending their selling streak to a seventh day, provisional exchange data shows, dealers say.

"Stable cash flows and lower volatility of Indian pharma stocks are leading to some flows in the sector ahead of key events like Yellen's speech and inflation data," a dealer said.

Sun Pharmaceutical Industries Ltd gains 1.8 percent, Dr.Reddy's Laboratories Ltd is up 1.9 percent and Cipla Ltd is higher 1.2 percent.

Caution is also seen ahead of consumer price inflation and industrial output data due later in the week.

EDITORIAL OF THE DAY

  • Public sector banks need to be independent of govt ownership

    The RBI, in its financial stability report released last week, has flagged off concerns about the deteriorating asset quality of public sector banks.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Arun Kumar Jain

A complex challenge for our PSUs

Till the mid-1990s, the central government and its companies were ...

Rajgopal Nidamboor

Up the ante of your conscious existence

It sounds cryptic, but is not as complex as it ...

Dharmendra Khandal

The one in which a blue whale was washed ashore

Quite unexpectedly, a gigantic blue whale was washed ashore at ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture