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In a volatile stock market, few sectors offer as much comfort as pharmaceuticals. The defensive sector known to be stable irrespective of economic conditions, has seen very good buying in the last few sessions. Going forward, its earning potential and robust growth seen in the market will offer comfort for brokerages bullish on the sector.
In the last one month, Nifty Pharma went up by 6.4%, with Biocon, Torrent Pharma, Zydus Life, Lupin and Glaxosmithkline offering double digit returns. Analysts hold a positive outlook for the sector due to many reasons, least of which is the recent spike in cases relating to a new variant of Covid-19.
“Beyond the new variant, India is a pharmacy to the world and the companies are investing in R&D to launch new products. We also remain optimistic on pharmacos in terms of performance, not just for this financial year but for the next financial year,” Gaurang Shah, senior VP at Geojit Financial Services told Business Insider India.
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