A mid valuation concerns, investors are turning to .defensive sectors. The pharmaceutical (pharma) sector has benefited from this shift, attracting investors seeking steady cash flows. On Friday, while most sectoral indices closed in the negative, the pharma index ended with gains. Over the past month, the Nifty Pharma, with a gain of 7 per cent, has outperformed other indices; the Nifty 50's returns were capped at 1.6 per cent.
Over the past three months, the pharma index was the second highest gainer with a 14 per cent return, compared to a 10 per cent return for the Nifty 50.
Among the top-listed pharma companies, average returns have exceeded 20 per cent, except for Cipla. The recent boost for listed pharma majors has come from their robust performance in the April-June quarter. Most major companies either surpassed or met Street estimates for sales, with operating margins and net profits exceeding expectations.
この記事は Business Standard の August 05, 2024 版に掲載されています。
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この記事は Business Standard の August 05, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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FY25 as weak-earnings year is gradually getting priced in
Even as many blame record foreign portfolio outflows for the market downturn, the real culprit is weak earnings amid rich valuations, says GAUTAM CHHAOCHHARIA, head of global markets, India, UBS. In an interview with Samie Modak in Mumbai ahead of the UBS India Summit, Chhaochharia highlights that 2024-25 (FY25) weak earnings growth is now factoring into market expectations. Investors are shifting their focus to the actions of the Reserve Bank of India (RBI) and the central government, as well as the outcome of upcoming state elections. Edited excerpts:
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