homemarket NewsPharma stocks may have 10 15% upside from current levels: Gautam Shah

Pharma stocks may have 10-15% upside from current levels: Gautam Shah

The Nifty Pharma index has outperformed the Nifty 50 index over the last month. The index is up over 6 percent, compared to the Nifty 50's 4.5 percent surge. Gautam Shah, Founder and Chief Strategist at Goldilocks Premium Research stated that the pharma index has the potential to see a 10-15 percent increase in value, even from its current levels.

By Sonia Shenoy   | Nigel D'Souza   | Prashant Nair  Apr 19, 2023 3:51:56 PM IST (Published)

2 Min Read
The Nifty Pharma index has outperformed the Nifty 50 index over the last month. The index is up over 6 percent, compared to the Nifty 50's 4.5 percent surge. Gautam Shah, Founder and Chief Strategist at Goldilocks Premium Research stated that the pharma index has the potential to see a 10-15 percent increase in value, even from its current levels.
With the ongoing COVID-19 pandemic still affecting millions worldwide, the demand for pharmaceutical products remains high. Therefore, it makes sense that the industry could see further growth in the future.
Shah said, “The sector was in a mega bear market for almost 18-20 months. So that index has come up well and I see further upside. This finally looks like a turnaround for good; there have been multiple turnarounds which failed in the last 12 months, but this turn looks very good, and I do believe that the pharma index can give you anywhere between 10 percent and 15 percent even from these levels.”