Top gainer: Jio Financial Services 224 ▲11 (+5.23%)
Shares of pharma companies rallied in trade
Shares of pharma companies rallied in trade. The NIFTY PHARMA index was trading 2.27% higher at 20,449.40 levels. Out of 20 components, 19 were trading in the green. The sentiment got a boost after, according to news reports, global broking firm Goldman Sachs has initiated coverage on two pharma stocks — Suven Pharma Ltd and Piramal Pharma Ltd. For Suven Pharma, the broking firm said it expects a strong rebound and structural growth in the current financial year, thanks to continued traction in its three to five drugs, including Empagliflozin, Finerenone and Antibody Drug Conjugates (ADCs), and potential approval of new drugs or indications, such as Zeongertinib, Nerandomilast, etc., among others.
IT stocks were trading with impressive gains
IT stocks were trading with impressive gains. The NIFTY IT index was trading 3.18% higher. The rally came after nearly an 8% plunge in the past five sessions. Mphasis was trading 5.13% higher at ₹2,209.95, followed by Infosys, up 4.05%, and LTIMindtree, up 4%.
Shares of Titan Company surged as much as 6.78% to ₹3,227.25 apiece on the NSE
Shares of Titan Company, one of the constituents of the NIFTY50 index, surged as much as 6.78% to ₹3,227.25 apiece on the NSE on Tuesday, April 8, as the company shared its Q4 business update last evening. Titan Company registered around 25% year-on-year (YoY) growth in standalone revenue for the quarter and around 21% for the financial year. Titan’s (consolidated) retail network grew by 72 stores (net) in the quarter to reach 3,312 stores.