Shares of health-care companies ticked up as traders took defensive positions ahead of a key speech from Federal Reserve Chairwoman Janet Yellen.
It may be a good time to take another look at Indian pharmaceuticals, after drug stocks saw a major de-rating over the last 2 years, says HDFC Securities.
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The healthcare index on BSE is down 10% this year, while the benchmark Sensex index is up about 19%. Some of the reasons for the under performance are pricing pressures in the U.S. and Europe, due to rising competition, delay in getting approvals and price control in the domestic market, the broker says.
-Rob Curran, email@example.com
(END) Dow Jones Newswires
August 24, 2017 16:43 ET (20:43 GMT)