Novartis India Shares Surge 10% Amid Market Recovery
· Business · LiveMint, Economic Times, Business Standard
Novartis India shares rose nearly 10% on 5 October, reaching an intraday high of ₹2,164.60 on the BSE. The rally followed a broader recovery in the Indian stock market after the Nifty 50 experienced its longest weekly losing streak in 25 years. Analysts suggest the stock needs to maintain levels above ₹2,100 to sustain its current momentum, with support identified near ₹1,900. Nuvama Institutional Equities reports that the company is shifting toward a direct commercialisation model, deploying over 900 medical representatives to expand its reach in Tier-2 and Tier-3 markets.
Why it matters
The company's transition to a direct sales model and focus on chronic therapies may influence its long-term growth and market performance for shareholders.
Read the original report — LiveMint
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