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Stock market update: Pharma stocks in pain; Aurobindo Pharma plunges 4%

NEW DELHI: Most pharma stocks were suffering losses during a..

NEW DELHI: Most pharma stocks were suffering losses during afternoon trade on Tuesday.

The Nifty Pharma was trading 0.96 per cent down at 8,417 around 2 pm with 7 stocks, out of total 10, losing.

Aurobindo Pharma plunged 4 per cent, emerging as the top loser in the index.

The drug firm on Monday reported a marginal decline in its net profit at Rs 528.5 crore for the fourth quarter to March 2018. Its net profit read Rs 532.5 crore in the previous fiscal.

Divi's Laboratories (down 2.92 per cent) was up next among the losers in the index.

Drug firm Divi's Laboratories on Saturday reported a 0.89 per cent rise in its standalone net profit to Rs 261.60 crore for the fourth quarter ended March 31.

Cipla (down 1.98 per cent), Piramal Enterprises (down 1.48 per cent), Glenmark Pharmaceuticals (down 1.35 per cent), Sun Pharmaceutical Industries (down 0.24 per cent) and Dr. Reddy's Laboratories (down 0.14 per cent) were also under pressure.

Meanwhile, Biocon (up 1.11 per cent), Cadila Healthcare (up 0.99 per cent) and Lupin (up 0.26 per cent) were the three stocks in the index that were up around that time.

Benchmark NSE Nifty50 index was down 45 points at 10,644, while the BSE Sensex was 158 points down at 35,007.

Among the 50 stocks in the Nifty index, 19 were trading in the green, while 31 were in the red.

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