BUZZ-India's hospitals, drugmakers set for weekly gains on steady earnings outlook, GLP-1 scope

Reuters03-27
BUZZ-India's hospitals, drugmakers set for weekly gains on steady earnings outlook, GLP-1 scope

** India's Nifty pharma .NIPHARM and Nifty Healthcare .NIFHEIN are up 0.3% and 0.1% on the day

** They have gained 0.8% and 0.6% this week, two of the only three sectors set for weekly gains

** Hospitals chain operator Apollo Hospitals APLH.NS rise 2.7% for the week, Max Healthcare MAXE.NS up 1.9%, Sun Pharma SUN.NS up 2%

** UBS initiated coverage of the Indian pharmaceutical sector on Tuesday, citing a limited impact from the Middle Eastern conflict given resilient demand

** Says, SUN looks well-positioned with innovative medicines and a robust pipeline to support earnings

** Nomura, Morgan Stanley, Macquarie and Investec expect Indian GLP-1 market to expand rapidly in volume terms, after at least 10 companies launched generic semaglutide in India following patent expiry on March 20

** Citi added APLH to its Pain-Asian focus list on Monday, a compilation of its high-conviction stock ideas across the region

** Nifty 50 .NSEI down 0.7% this week, on course for fifth straight weekly losses

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))

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