Some of the growth is captured in the price rally, higher valuations
The Nifty Pharma index has crossed its near-term resistance at 13,700, and may spurt another 1.5 per cent.
Among individual stocks, Aurobindo Pharma was the top gainer, which rallied 8 per cent to Rs 688.90 on the BSE in intra-day trade.
Analysts remain optimistic on the company's outlook for FY23 & FY24 with new capacity addition for commercial usage for FDF and API segments, ARV business and robust growth expected in CS business.
The company on Thursday said it has received purchase orders from a leading global life sciences company and the supplies will commence from March 2022.
The company said its Q3FY22 results were impacted by lower sales of ARV, APIs and formulations due to stocking at channel partners and it expects improvement from January-March quarter (Q4).
Laurus Labs Ltd, Endurance Technologies Ltd may surge over 30 per cent whereas small cap stocks like Avanti Feeds Ltd, BASF India and Rain Industries could jump up to 40 per cent from current levels
Sun Pharma, Cipla, Natco, Dr Reddy's, Torrent Pharma, Aurobindo Pharma and Strides have launched a generic version of Molnupiravir in India post approval for emergency use authorisation from DCGI