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Bharat Immunologicals' shares gain 43% as pharma stocks surge

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Mumbai, Dec 6 (IANS) Several healthcare stocks have been on a bull run amid the pandemic and once such blockbuster stock is of Bharat Immunologicals & Biologicals Corporation Ltd (BIBCOL), which has increased 43 per cent in just a month’s time.

BIBCOL is a public sector biotechnology company based in Uttar Pradesh. It currently manufactures and produces a range of pharmaceuticals products such as Oral Polio Vaccines (OPV vaccine), zinc tablets and Diarrhoea Management Kit among others.

Its shares closed at Rs 37.60 on the BSE on Friday, 43.23 per cent compared to Rs 26.25 a month ago.

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Over the past six months amid the pandemic, its shares have grown 127 per cent.

This surge can largely be attributed to the surge in sales of medicines and other healthcare products amid the pandemic.

During the quarter ended June, the company reported a nearly three-fold rise in the income from operations at Rs 19.15 crore, against Rs 6.99 crore reported during the corresponding period of the previous fiscal.

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The pandemic has also led to a bull run in healthcare stocks and primarily for those which manufacture vaccines.

The S&P BSE Healthcare index has surged 30 per cent over the past six months.

Analysts say that the hopes of vaccines to thwart the spread of novel coronavirus may further lift the healthcare stocks led by the vaccine-manufacturing companies.

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–IANS

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