The only sectoral index that managed to end in the green despite the mayhem on Friday was the BSE Healthcare — with a gain of 1.2 per cent. Investors are betting on the healthcare space to be the beneficiary following a worldwide alert on the new Covid variant, Omicron. Within the pharmaceutical space, brokerages are betting on domestic-oriented pharma companies as compared to larger generic players, which are witnessing multiple headwinds in the US market.
Domestic operations of Indian companies stood out on the growth parameter in the September quarter. Even as overall YOY sales growth for the sector was 7 per cent, the Indian domestic business grew at 12 per cent. While JB Chemicals posted the fastest domestic formulations growth of 39 per cent over the year-ago quarter, IPCA's performance stood out on both YoY and sequential bases, with the growth of 30 per cent and 14 per cent, respectively. Alkem Laboratories and Sun Pharmaceuticals were the other notable performers in the domestic market, registering 26 per cent growth YoY.
This story is from the November 29, 2021 edition of Business Standard.
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This story is from the November 29, 2021 edition of Business Standard.
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