Pharma Stocks Swallow Bitter Pills And Drag Sun Pharma Among Top Nifty Losers

Pharmaceuticals stocks are under pressure as reports suggested that United States may bring charges of price collusion against a group of drug makers before the end of this year. The Department of Justice had reportedly started an investigation two years ago and the companies under the scanner are Sun Pharma, Taro Pharma and Mylan.

The BSE Healthcare slipped 3.5% or 560 points at 15,247 as against the previous close of 15,807. The BSE Healthcare opened at 15,686 and hits a high of 15,406 and a low of 15,036. The sectoral breadth of BSE Healthcare was divided with 3 stocks advancing and 66 stocks declining. The index market capitalization stood at Rs. 788,693.82 crore.

Sun Pharmaceuticals Industries Ltd is currently trading at Rs 661.3, down by Rs 43.7 or 6.2% from its previous closing of Rs 705 on the BSE. The scrip opened at Rs 680 and has touched a high and low of Rs 680 and Rs 654 respectively. So far 13128419 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 169676.15 crore.

Glenmark Pharmaceuticals Ltd is currently trading at Rs 856.95, down by Rs 55.5 or 6.08% from its previous closing of Rs 912.45 on the BSE. The scrip opened at Rs 911.95 and has touched a high and low of Rs 911.95 and Rs 851.35 respectively. So far 924463 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 25746.43 crore.

Dr Reddys Laboratories Ltd is currently trading at Rs 3103.95, down by Rs 158.05 or 4.85% from its previous closing of Rs 3262 on the BSE. The scrip opened at Rs 3238 and has touched a high and low of Rs 3238 and Rs 3085 respectively. So far 344198 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 55711.14 crore.

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