Stocks such as Divi’s Laboratories, Ipca, Dr Reddy’s, Cipla, and Alkem Laboratories have gained between 2% and 4% in the past week. The sector was in a consolidation phase in the past year due to a decline in business growth post-Covid, and valuations dropped about a fifth.
IndiGo profit falls on higher cost on older planes
The airline was forced to induct older planes due to grounding led by issues of Pratt & Whitney engines