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Pharma index hits record high as govt launches phase 3 of Covid vaccination


Shares of pharmaceutical companies are in demand at the bourses with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to spike in demand for Covid-related drugs.
Individually, Cipla, Gland Pharma, JB Chemicals and Pharmaceuticals, Max Healthcare, Neuland Laboratories and Apollo Hospital Enterprises hit their respective record highs today. Menawhile, Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.
Investors rushed to buy pharma stocks as the Indian government will open up vaccination to anyone over 18 years of age starting May 1 with greater flexibility on pricing, procurement and administration of vaccines. This opens up the private market for vaccination and provides more leeway to states and private compa ....

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Market Wrap, April 20: Here's all that happened in the markets today


A sharp sell-off in the fag-end of the session engulfed markets on Tuesday as incidents of localised lockdowns increased in the country. The economically important state of Maharashtra tightened Covid-19-related curbs, allowing shops to stay open only between 7 AM and 11 AM, while eastern state of Jharkhand announced a complete lockdown for a week, starting Wednesday. Uttar Pradesh government has also announced weekend lockdown across the state.
Given that India is grappling with a stronger second wave of Covid-19, Sameer Narang, chief economist at Bank of Baroda, believes that the government needs to announce a fresh stimulus package, tailor made for people and businesses impacted the most. He suggests that states can announce incentives for MSME investments to build supply chains under the Centre s PLI scheme. In addition to this, he says, RBI window of restructuring for MSMEs can be extended. ....

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