INSUBCONTINENT EXCLUSIVE:
Shares of pharma companies were outperforming in an otherwise weak market session as rising demand for medicines amid rising Coronavirus
infections in country led to investors buying shares of pharma companies.The gauge of pharma shares on the National Stock Exchange rose 1.4
per cent massively outperforming the Nifty 50 index which was down 3.58 per cent.Rising Covid-19 cases in the country is leading to higher
demand for medicines which is driving up the share prices of drugmakers, analysts said.Reports of the government imposing ban on export of
anti-viral drug Remdesivir owing to shortage also led to buying interest in pharma shares.India has banned export of the anti-viral drug
Remdesivir amid a surge in COVID-19 cases in the country
In an order, the government said it has banned export of Remdesivir injection and Remdesivir active pharmaceutical ingredients (API) till
the pandemic situation in the country stabilises.Cipla was top gainer among the pharma shares
The stock rose as much as 6.45 per cent to hit an all-time high of Rs 940 on the National Stock Exchange.Divi's Labs, Dr Reddy's Labs,
Torrent Pharma, Cadila Healthcare, Ipca Labs, Laurus Labs and Alkem Labs were also trading with a positive bias.
