Pharma dodges Trump tariffs in first round but 3 scenarios that haunts future prospects

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Pharma stocks relieved as sector escapes new US tariffs, but risks remain.
HDFC Securities estimates a 3-45% EBITDA hit based on tariff burden scenarios.
BNP Paribas sees minimal impact, expects a relief rally for Nifty Pharma Index.
HDFC Securities recommends BUY/ADD for major pharma stocks, REDUCE for Dr. Reddy’s.

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