Pharma stocks are in focus after RBI Governor Shaktikanta Das offers banks incentives to extend easy credit. Das classifies COVID-critical manufacturing and services as a priority sector and offers banks incentives to extend easy credit.
It is defensive buying according to experts as well. Also, companies that are dealing with COVID-19 related drugs and vaccines, such Dr Reddy’s, Cadila, Cipla, continue to be in focus.
Hikal has signed a 10-year multi-product deal with the global pharma innovator company for niche active pharmaceutical ingredients (API).
The Q4 numbers will be out for pharma companies next week. Lupin, Dr Reddy’s Laboratories, Cipla, the street is awaiting commentary with regards to audits by the USFDA which would be digital.