Nifty Pharma Index Outperforms Benchmark Nifty 50; Glenmark Pharma Top Performer
The NSE Nifty Pharma Index emerged as the top performer among other sectors, gaining 1.66% compared to the benchmark Nifty 50, which gained 0.2%, led by Glenmark Pharmaceuticals Ltd., driven by strong earnings during the third quarter.
Glenmark Pharmaceuticals rose 5.7% after the company reported a 300.2% sales growth in India for the third quarter. Additionally, Glenmark posted a profit for the October-December period, reversing a loss from the same period last year.
Ajanta Pharma saw its shares climb 6.11% intraday; meanwhile, Aurobindo Pharma's shares gained 3.59% during the day. Zydus Lifesciences experienced a 2.84% increase in its share price, and Alkem Laboratories' shares rose by 2.73%.
Lupin saw a 2.59% gain in its share price, followed by Sanofi India's shares, which increased by 2.53%. Torrent Pharmaceuticals and Abbott India shares were up by 2.02% and 2.1%, respectively.
Brokerage and research firm HSBC's outlook on the pharmaceutical sector remains optimistic, despite concerns over potential US tariffs. The firm believes that the impact of such tariffs would be minimal, given the essential nature of generic drugs in the US healthcare system.
Indian pharmaceutical companies, which supply 60% of generic drug volumes to the US, are expected to continue playing a crucial role in lowering healthcare costs. HSBC anticipates that the market will remain focused on the long-term growth prospects of the sector.
"India currently imposes a 10% duty on medicine imported from the US. In a hypothetical bear case scenario, the US imposes a reciprocal tariff of 10% on Indian pharma companies (currently, 0% tariff). This would lead to a 6.5% cut in our FY26 EPS estimates for key covered names," the research firm noted.
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