With a new Covid variant found in South Africa, Botswana and Hong Kong, said to be more virulent, the market is in jitters and as expected, the pharma and diagnostic stocks are back in the reckoning.
Cipla is the top gainer, up over 7% currently at Rs.964, followed by Dr.Reddy’s, Aurobindo Pharma, Divis Labs, Lupin, Torrent Pharma. Diagnostic stocks – Lalpath Labs, Metropolis, Vijaya Diagnostics, Thyrocare and Aster DM; all are up in the green.
The market is down in the red over worries of the new variant once again causing a ruckus while these stocks are being accumulated by punters who see an opportunity in every diversity. An increase in cases would mean more business for all these companies.