Cipla, Ajanta Pharma to Alkem Laboratories: Pharma stocks rise amid weak trends on Dalal Street

Pharma stocks rallied up to 20% on Monday, pushing the Nifty Pharma index up by 1.65%, even as the broader market weakened on US-Iran tensions and rising crude prices. Torrent Pharmaceuticals and Mankind Pharma gained over 3% each, while Cipla, Divis Laboratories, Laurus Labs, Alkem Laboratories and Sai Life Sciences rose over 2%. Tatva Chintan Pharma Chem surged 20% to a 52-week high of around Rs 1,714 after strong Q1 results. The BSE Sensex fell 0.86% to about 77,480 and the Nifty 50 slipped 0.70% to around 24,165.