It rained gains for Pharma, IT stocks during Rupee's slide

Last Updated: Wed, Sep 12, 2018 18:36 hrs
IT Sector (Reuters image)

The rupee's continuous slide that resulted in the currency hitting a new all-time low of 72.91 against the U.S. dollar may have immensely hurt the broad market, but shares from the two sectors, IT and pharma, saw some profitable outings in recent sessions.

All the stocks in the Nifty Pharma index have gained in strength over the past one month, with Cipla, who is up by a little over 4%, being the stock with least gains. The Nifty Pharma index has gained 13.12% in the last one month.

The biggest gainer of them all, is Aurobindo Pharma, which has surged up almost 25% in the past 30 sessions. Howeve, the stock was among a few notable losers in Wednesday's session.

Lupin has spurted 18.4%, Sun Pharmaceutical Industries, Cadila Healthcare and Glenmark Pharmaceuticals have gained 15% - 15.4%, while Divi's Laboratories, Dr Reddy's Laboratories and Biocon have moved up 14.1%, 13.1% and 11.8%, respectively, during this period. Piramal Enterprises has logged a gain of 5.3%.

Biocon, with a gain of almost 90%, is the best performer in the Nifty Pharma index in the last one year, followed by Divi's Laboratories, which has surged up 77.6%. The next best is Sun Pharma with a gain of about 39%. Cipla, Glenmark Pharmaceuticals and Dr Reddy's Laboratories follow in that order, gaining between 17.3% and 18.1%.

Among the stocks in the Nifty IT index, MindTree, Infibeam, Wipro, Tech Mahindra and HCL Technologies have gained between 10.3% and 17.2% in the last 30 days. Oracle Financial Services has gained 7.55 and KPIT has moved up 4.3%, while Tata Consultancy Services has mved up 2.3%. Tata Elxsi has shed about 6%. Infosys, which peaked to Rs 1467 on September 3, is currently around Rs 741, following a 1:1 bonus issue.

KPIT gained a whopping 168.4% in the last one year. MindTree was not far behind, having spurted about 157% during this period. Tech Mahindra has risen nearly 68%.

The rupee, which was hovering around 69 against the greenback around this time last month, has lost about 5.8% since then. In early January 2018, the currency was trading around 63.70 a dollar, which means it has lost 14.6% in a little over eight months. For most part of the period between September 2017 and December 2017, the rupee was moving between 63.50 and 65.00 a dollar.