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September, 2006 Pragati Maidan, New Delhi, India |
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Pharma scrips stay under the weather.
Healthcare index grows just 3.7% in a month.
Though boost in the sensex figures has not seemed to trickle down to the pharma sector. While the sensex crossed the 7000-mark recording a 7.15% rise in a month the pharma sector boasted of an abysmally low 3.7%.
Even the scrips that traded in the positive territory during the month underperformed the sensex
The underperformance of the pharma sector is in line with a longer trend. The sector has under performed in the sensex for the past 18 months. Unlike the past, when pharma shares formed an integral part of stock market rallies, investors largely ignored the sector during the boom. Reason being that the values of pharma companies had become overstretched and some kind of correction was inevitable.
Date: 06-Jul-2005
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