After a prolonged correction, the index underwent another surge in recent times as healthcare stocks gained momentum due to the deteriorating Covid scenario. 

The company released a press release on Monday, stating Advent International has entered into definitive agreement to acquire significant stake in the company and intends to explore the merger of  its portfolio company

At the time of market closing on Monday, the headline equity indices, i.e. Sensex and Nifty 50 plunged over a per cent each, owing to the rising inflation fears in the US markets.  

At 11.30 am on Friday, the headline equity indices, i.e. Sensex and Nifty 50 are seen extending their losing streak in the morning, owing to weak global cues.  

The pharmaceutical sector in India ranks third in terms of volume and fourteenth in terms of value (both globally).  The domestic market is anticipated to increase three times in the next ten years, according to the Indian Economic Survey 2021.

In Q4FY22, the financial performance of the pharma companies was affected by the rising raw material & freight costs. Despite the pressure on margins, some pharmaceutical companies managed to showcase decent financial performance in Q4FY22. 

In the first hour of the trading session, Sensex and Nifty were able to recover some of the opening losses and traded flat. At the time of market opening, 27 out of 30 stocks on Sensex were trading in the red. The top gainers on Sensex are Dr Reddy’s Laboratories, Reliance Industries, and Maruti Suzuki whereas the top losers include Asian Paints, Tata Steel, Power Grid Corporation, L&T, and UltraTech Cement.  

The stock of Aurobindo Pharma is extremely bullish today and has surged nearly 2 per cent despite turmoil in the market.

Shilpa Biologicals Pvt Ltd, a subsidiary of Shilpa Medicare Ltd, has announced a strategic tie-up with Mylab Discovery Solutions, India’s leading diagnostic solutions provider. With this association, Shilpa Medicare expects to venture into the vaccine and therapeutics segment