Indian healthcare stocks gained on Wednesday after the Reserve Bank of India (RBI) said it will give Rs50,000 crore in liquidity to the sector.
BSE Healthcare index surged nearly 2%. Among gainers, Lupin advanced 6%, Wockhardt 6%, Sun Pharmaceuticals 4%, Alkem Lab 4%, Metropolis Healthcare 3%, Glenmark Pharma 1.6%, Dr Reddy’s Lab 1.5%, and Indraprastha Medical 1.5%.
RBI said that to boost provision of immediate liquidity to ramp up covid-related healthcare infrastructure and services in the country, an on-tap liquidity window of Rs50,000 crore with tenors of up to three years at the repo rate is being opened till 31 March 2022.
Under the scheme, banks can provide fresh lending support to a wide range of entities, including vaccine manufactures; importers/suppliers of vaccines and priority medical devices; hospitals/dispensaries; pathology labs; manufactures and suppliers of oxygen and ventilators; importers of vaccines, and covid-related drugs; logistics firms, and also patients for treatment, the statement added.
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