The Nifty Pharma index is currently the top gaining sectoral index on NSE, rising over 1 percent to hover around 21,586.80.
Pharma (Representative image)
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Pharma stocks recorded significant gains on June 5, pushing the Nifty Pharma index higher into the green for the second consecutive session. Notably, the pharma index is currently the top gaining sectoral index on NSE, rising over 1 percent to hover around 21,586.80.
The pharma sector is currently outperforming the overall market, with benchmark indices trading with lesser gains. The Sensex was up nearly 315 points (0.4 percent) to stand at 81,317, while Nifty 50 was up 100 points (0.4 percent) to hover around 24,716.
The sharp rise in the share prices were triggered by several factors related to the individual stocks, and bullish calls issued by brokerages. Glenmark Pharma and Laurus Labs shares were up over 3 percent each to trade at Rs 1,560 apiece and Rs 642 apiece respectively.
Dr Reddy’s Laboratories shares were meanwhile up nearly 3 percent to trade at Rs 1,288.60 apiece. Notably, the firm recently announced a strategic collaboration with Alvotech to co-develop, manufacture, and commercialize a biosimilar version of Keytruda (pembrolizumab) for global markets. Keytruda is a popular immunotherapy drug which is used in the treatment of various cancers.
Additionally, Life Insurance Corporation of India (LIC) has announced that it will acquire over 2 percent equity stake in Dr Reddy’s Labs, taking its total stake in the company to over 8.2 percent.
Zydus Lifesciences shares jumped nearly 2.4 percent to trade at Rs 953.60 apiece, while Lupin shares rose around 1.7 percent to Rs 1,976 apiece. Axis Capital has issued a positive note for the stocks, after US district allowed companies to expand the scope of argument in Myrbetriq generic case. According to the brokerage, Lupin and Zydus now have the ammunition to defend at-risk launch of Myrbetriq generic as expanding the scope of argument reduces the risk of penalty.
Aurobindo Pharma, Ajanta Pharma and Abbott India shares were up over 1 percent, while Cipla, Natco Pharma, Granules India, Mankind Pharma, Sun Pharma, Torrent Pharma, Alkem Labs and Gland Pharma were trading in the green with marginal gains.
Despite the positive uptrend in the market, Biocon and few other pharma stocks were trading in the red with some losses.
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Axis Securities in its latest report noted that the pharma sector delivered a healthy performance in the fourth quarter of the financial year 2025. “In Pharmaceuticals, the industry appears well-positioned for FY26 and beyond, supported by a strong product pipeline in biosimilars, GLP-1, and peptides, higher contribution from chronic therapies, which continue to outperform the overall IPM table to improving margins,” it said.
The brokerage noted that despite short-term volatility driven by potential US tariff announcements, India’s structural cost advantage in pharmaceutical manufacturing remains intact. “The likelihood of generics being excluded from punitive measures is high, and even if tariffs are imposed, the pass-through mechanism will protect profitability. The market may react in the interim, offering attractive entry points for long-term investors,” it added.
Axis Securities named Lupin and Aurobindo Pharma as its top stock picks in the sector. The firm kept a ‘Buy’ call on Lupin, with a target price of Rs 2,500 apiece, implying an upside potential of nearly 29 percent from the stock’s previous closing price. It also kept a ‘Buy’ rating Aurobindo Pharma, with a target price of Rs 1,500 apiece. This implies an upside potential of nearly 32 percent from the stock’s previous closing price.
JM Financial said that the first half of the ongoing FY26 is expected to be flat for the US sub-segment, with generics potentially re-entering a low earnings growth phase. “But managements across our coverage firms are confident of beating IPM growth,” it said. The brokerage maintained a ‘Buy’ call on Aurobindo Pharma, Biocon, Dr Reddy’s, IPCA, JP Pharma, Sun Pharma, Piramal Pharma and more stocks, It however had a ‘Hold’ call for Zydus Lifesciences, Torrent Pharma, Lupin and Cipla.
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