As Covid-19 cases rise in India; should you keep pharma stocks on radar?

Barring Dr Lal Pathlabs, the other four healthcare related stocks listed below seem to be trapped in a range for now, charts suggest.

India has witnessed a notable rise in new Covid-19 cases since late December 2023. On Monday the country reported 636 new Covid-19 cases, taking the nation-wide active case tally to 4,394.

Further, Karnataka with 229 fresh cases reported on January 01, became the second state after Kerala to have over 1,000 active cases.

So far, the World Health Organisation has maintained its stance on the new JN.1 Covid-19 sub-variant as a 'Variant of interest' (variants that are less effectively neutralised in labs by antibodies from infection or vaccination) as against 'variant of concern' which potentially spread rapidly.

Meanwhile, several states in India have