Duds of booming stock market win over $20-billion manager

Healthcare, technology are only sectors in red this year in India

India’s worst-performing stocks look like good value to the asset manager spun off from the country’s oldest mutual-fund company.

Health care and technology are the only sectors in the red this year in India, where the wider market has soared to new highs. Lupin and Dr Reddy’s Laboratories are the biggest losers on the S&P BSE Sensex, down more than 30 per cent each.

India’s drugmakers are facing lower prices for generic drugs in the US —their biggest market and more scrutiny from the regulator there. The US is also the most important region in terms of sales for the local technology