Pharma stocks on roll, surge up to 17% as PM Narendra Modi announces precautionary dose amid Omicron scare

Leading the maximum surge in the markets, the pharma stocks from across segment are on the roll a day after Prime Minister Narendra Modi on Saturday announced precautionary shorts in the wake of Omicron, a new Covid variant, spread in the country. 

Both the indices – BSE Healthcare and Nifty Pharma – are each up around 1.5 per cent during Monday’s session intraday on Monday. In the former, at least 20 stocks are up, while 30 slipped in the trade, similarly, almost all stocks in the latter index except for Pfizer, down over 1 per cent. 

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In the heavyweights such as Cipla, Dr Reddy’s are each up over 2 per cent, followed by Aurobindo Pharma and Lupin each up around 2 per cent and Divis Lab marginally up in the trade on the NSE. 

While from the broader markets, Bliss GVS jumped most in all, up over 17 per cent, followed by Gufic Bioscience up around 10 per cent, Morepen Lab up over 6 per cent on the BSE. While Kopran, Pancea Biotech, Natco Pharma are each up between 4-5 per cent on the BSE. 

Similarly, Granules, Laurus Labs, Glenmark are each up nearly 3 per cent intraday trade on Monday on the BSE. 

In his address to the nation, the Prime Minister had announced that precaution dose for frontline workers, healthcare workers and senior citizens with comorbidities. Besides, the youngsters between the age group of 12-15 years to get vaccination he said, adding that will aid education too. 

The cases of new covid variant – Omicron are on the surge as India so far reports over 500 cases in the recent past. In this regard, PM Modi cautions public on Omicron without the need for panic. 

“As the virus is mutating, our capability and confidence to face the challenge are also multiplying along with our innovative spirit,” the prime minister also said in the address on Saturday.