Wockhardt, Ajanta Pharma, among others fuel Nifty Pharma up over 2%; what’s driving today’s gains?

Sectoral benchmark, Nifty Pharma index jumped 2.6% to its intraday high level during the stock market session on Wednesday, May 6, after strong buying momentum from investors supported pharma stocks amid an overall positive sentiment in the market.

NSE data showed that the Nifty Pharma index jumped 2.6% to hit the intraday high of 24,182.65 points on Wednesday, compared to 23,568.95 points at the previous market session.

Aside from the positive sentiment in the market, key factors like corporate earnings in the sector, along with certain company updates and regulatory approvals, made pharma stocks more attractive among investors amid mixed global cues.

As of 1:17 pm, the Nifty Pharma index was trading 2.5% higher at 24,170 points, compared to the previous market close, according to NSE data.

Factors fuelling pharma stocks today

Nifty Pharma’s largest mover of the day, Wockhardt shares, were trading based on positive buying momentum due to a surge in the company’s net profits in the March quarter.

NSE filings showed that Wockhardt recorded a 317% year-on-year increase in net profits to ₹167 crore in the fourth quarter, a 45% rise in revenue from core operations and an overall growth in its business segments across biotech and India-branded business.

Another key earnings in focus in the sector was that of Ajanta Pharma, which recorded a 18% jump in net profits after tax (PAT) in the fourth quarter, on the strong increase in revenues.

Investors were not just trading based on the easing geopolitical situations in West Asia, but also investing based on quality defensive stocks play in the market, away from lower crude oil price-related bets.

Latest updates showed that Aurobindo Pharma received the United States Food and Drug Administration (FDA) green light, concluding its inspection, stating that the company has an “oral solid dosage manufacturing unit” in Telangana.

In case of Alkem Laboratories, the Mumbai GST commission dropped a ₹69.65 crore GST demand notice, along with an interest and penalty payable ask of the same amount, marking a win for the company against the notice.

Index heavyweight, Sun Pharma shares were also subjected to value buying momentum after the company uploaded its Organon acquisition investor meeting commentary on the stock exchanges.

With Organon’s strategic acquisition, Sun Pharma aims to develop new products going forward, leveraging the manufacturing capabilities of the company to foray into the biosimilar medicines business.

“The innovative medicine is almost 33% of the revenues of Organon, and the next big chunk comes from established brands like Zetia, Atozet, Arcoxia, Hyzaar, and Cozaar. These are well-known names which contributes 55%, and what it helps us is also entry into biosimilars, and they have today six products in biosimilars, but this portfolio can be grown further,” said Kirti Ganorkar, the managing director of Sun Pharma.

Pharma stocks in focus today

Shares of Wockhardt have gained 37% in the past one month, and delivered more than 22% returns on investment so far in 2026. The pharma company’s stock was up over 25% in the last five market sessions.

Ajanta Pharma stock has delivered 13% returns in the past one month, and has gained 5.5% on a year-to-date basis in 2026. The company’s stock was trading over 10% higher in the last five market sessions.

Shares of Alkem Lab have risen over 7% in the past one month, and over 2% on a year-to-date basis in 2026. The pharma company’s stock has gained 5% in the last five trading sessions on NSE.

Shares of Aurobindo Pharma have delivered more than 10% returns in the past one month, and over 23% gains YTD. The company’s stock was trading nearly 6% higher over the last five market sessions.

Sun Pharma shares have delivered more than 9% returns on their investment in the last one month period, and over 7% gains so far in 2026. The pharma heavyweight stock was trading nearly 4% higher over the last five market sessions on NSE.