MUMBAI: Amidst a choppy market, shares of pharmaceutical companies were holding fort with Fortis Healthcare leading. BSE Healthcare Index was up 1.82 per cent at 4,278.50. It has appreciated 6.79 per cent in the past one week.
“These were under-valued stocks compared to rest of the sectors and are moving towards fair valuation. Earlier some of these companies were trading below price to earnings ratio of 15 and now they are moving towards PE of 20. More buying is seen in R&D-focused companies,” said an analyst tracking the sector.
Shares of Fortis Healthcare were up 14.55 per cent or Rs 12.65 at Rs 99.60. It appreciated over 30.05 per cent in one month. Sun Pharma Advanced Research was locked at 10 per cent upper circuit at Rs 171.70. It has gained over 106 per cent in past one month.
Lupin was at Rs 635, up 5.69 per cent or Rs 34.20, appreciating 15.62 per cent in a month’s time. Apollo Hospital was up 5.01 per cent or Rs 24.55 at Rs 515 after touching 52-week high of Rs 550 earlier in the day.
Wockhardt climbed 4.72 per cent or Rs 19.25 to Rs 427 on volume of 1,16,364 shares against two week average of 49,502 shares. Aurobindo Pharma gained 3.67 per cent or Rs 19.60 to Rs 553 on volume of 62,480 shares against two-week average of 47,467 shares. It has gained 6.35 per cent in one month period.
“These were under-valued stocks compared to rest of the sectors and are moving towards fair valuation. Earlier some of these companies were trading below price to earnings ratio of 15 and now they are moving towards PE of 20. More buying is seen in R&D-focused companies,” said an analyst tracking the sector.
Shares of Fortis Healthcare were up 14.55 per cent or Rs 12.65 at Rs 99.60. It appreciated over 30.05 per cent in one month. Sun Pharma Advanced Research was locked at 10 per cent upper circuit at Rs 171.70. It has gained over 106 per cent in past one month.
Lupin was at Rs 635, up 5.69 per cent or Rs 34.20, appreciating 15.62 per cent in a month’s time. Apollo Hospital was up 5.01 per cent or Rs 24.55 at Rs 515 after touching 52-week high of Rs 550 earlier in the day.
Wockhardt climbed 4.72 per cent or Rs 19.25 to Rs 427 on volume of 1,16,364 shares against two week average of 49,502 shares. Aurobindo Pharma gained 3.67 per cent or Rs 19.60 to Rs 553 on volume of 62,480 shares against two-week average of 47,467 shares. It has gained 6.35 per cent in one month period.
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