Quote on `Pharma sector back in action again` by Mr. Yash Gupta, Angel Broking Ltd
Below are Quote on Pharma Sector: "Pharma sector back in action again" by Mr. Yash Gupta Equity Research Associate, Angel Broking Ltd
We had seen a very good healthy consolidation in the Pharma & Healthcare sector since the last month and now the sector is again in action.
Today S&P BSE Healthcare is up by 1.5% on the back of LALPATHLAB up by 7.6%, THYROCARE up by 4.6% while some profit booking in POLYMED down by 1.1%.
Results for the last quarter Q4FY21, was not up to the mark of market expectation, as companies reported flat growth in export market and single digit growth in domestic market whereas companies reported better than expected EBITDA margins for the quarter.
As covid cases are coming down, we expect gradual opening up of the economy and removal of travelling restrictions across India. We expect the Pharma & Healthcare sector to give some good returns in upcoming months.
We have a buy call on Apollo Hospitals with target price of ₹3700.
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