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.

Post new comment

E-mail ID will not be published
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.

EDITORIAL OF THE DAY

  • Back from the US of A, Modi will now have to walk the talk

    It would be no overstatement to suggest that prime minister Narendra Modi’s five-day trip to the US was an exercise in PR diplomacy.

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

Chander Mohan Sethi

CMD, Reckitt Benckiser India

COLUMNIST

Simon J Evenett

Where the mind leads, actions follow

Whether in business, government, non-profits, or elsewhere, what assumptions underpin ...

Zehra Naqvi

Fading empathy in the modern world

The episode of a man being mauled to death by ...

Gautam Gupta

French fashion icon Gaultier’s pret goodbye

With Gaultier gone, the world of international prêt will never ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture