Business & Investment

Sun Pharma’s 16-month best day boosts the July pharmaceutical fund show

Mumbai: Friday’s 10% surge in the industry is the largest in more than 16 months, helping some pharmaceutical and healthcare funds to turn a calm July into a brilliant one.

Given that Sun Pharma has a significant weight in most pharmaceutical and healthcare mutual fund schemes in the country, Friday’s extraordinary profits had a positive impact on the net asset value of these funds.

ICICI Prudential Healthcare and Diagnostics, Nippon India Pharma Fund, Tata India Pharma & Healthcare Fund, UTI Healthcare Fund, SBI Healthcare Fund, and Aditya Birla Sun Life Pharma & Healthcare Fund surged 1.3-2.2% on Friday.

Friday surge of these massive NAVs Pharmaceutical-oriented scheme It also helped with monthly returns. Prior to Friday’s profits, these plans were on course for an average profit of approximately 0.7-0.8% in July.

With the help of Sun Pharma, many pharmaceutical and healthcare schemes ended in July, with an average rise of 2-3%, delivering performance comparable to some of the mid-cap and multi-cap funds of the month. rice field.

Stocks of pharmaceutical giants soared after it said its arm Taro Pharmaceutical Industries Resolved a multi-year antitrust proceeding with US Department of Justice.. The settlement brings years of uncertainty about the possible consequences for the company after being accused in a price-fixing scandal in the United States at the beginning of the last decade.

In addition, the company reported healthy operating and operating profit growth for the quarter ended in June, suggesting no headwinds regarding pricing power in the US market. Earlier in the week, some peers, such as Dr Reddy’s Laboratories, suggested that some products in the US market were facing lower prices.

The company’s consolidated net profit was 144.4 billion rupees, which was lower than Street’s estimate, but consolidated sales of over 970 billion rupees were higher than expected.

Sun Pharma’s 16-month best day boosts the July pharmaceutical fund show

https://economictimes.indiatimes.com/markets/stocks/news/sun-pharmas-best-day-in-16-months-boosts-july-show-of-pharma-funds/articleshow/84968515.cms Sun Pharma’s 16-month best day boosts the July pharmaceutical fund show

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