New Delhi: Shares of Pharmaceutical companies on Thursday climbed 7 per cent after the Trump administration exempted pharmaceuticals from reciprocal tariffs.
The scrip of Jubilant Pharmova rallied 6.82 per cent to close at Rs 971.65 apiece, Ipca Laboratories by 5.26 per cent to settle at Rs 1,489.75, Lupin by 4.26 per cent to finish at Rs 2,095, and Sun Pharmaceutical Industries by 3.26 per cent to conclude at Rs 1770.10 on the BSE.
Additionally, Cipla’s stock rose 2.92 per cent to settle at Rs 1,495.15 per piece, Divis Laboratories by 1.90 per cent to close at Rs 5,770.85, Glenmark Pharma by 1.89 per cent to conclude at Rs 1,545, and Gland Pharma by 1.75 per cent to end at Rs 1,562, and Aurobindo Pharma by 1.50 per cent to finish at Rs 1,176.05.
On the other hand, the securities of Torrent Pharmaceuticals went up 1.09 per cent to finish at Rs 3,244.40 per share and Dr Reddys Laboratories’ by 0.13 per cent to settle at Rs 1,151.25 apiece on the exchange.
US President Donald Trump, in a historic measure to counter higher duties on American products imposed globally, on Wednesday announced reciprocal tariffs on about 60 countries, including India.