Pharma stocks rally after cabinet approves PLI scheme
Shares of eight pharmaceutical companies rose by 0.5% to 3.4% after the cabinet approved Production Linked Incentive (PLI) scheme for pharmaceuticals segment.Hikal (up 3.46%), Neuland Laboratories (up 3.08%), IPCA Laboratories (up 2.85%), Alkem Laboratories (up 1.43%), Torrent Pharmaceutical (up 1.09%), Biocon (up 0.6%), Cadila Healthcare (up 0.58%) and Aurobindo Pharma (up 0.52%) were top gainers in pharmaceutical space. The Union Cabinet on Wednesday approved Production Linked Incentive (PLI) scheme for pharmaceuticals over a period of Financial Year 2020-21 to 2028-29. The scheme will ben...