Indian pharma shares gain on foreign buying

Shares in mid-sized drug makers extend a recent rally as dealers cite evidence of good buying by foreign institutional investors (FIIs).

“A weaker rupee and an increasingly diversified revenue base are attracting FIIs,” said a dealer with a domestic brokerage.

Shares of Aurobindo Pharma Ltd gain 1.8 percent, bringing the gains over the past eight sessions including Thursday to 37 percent.

Wockhardt Ltd is up 2.2 percent, heading for its sixth daily gain in the past seven sessions for a total gain of 28 percent so far during that period.-Reuters Market Eye

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