Home/Blogs/Top pharma stocks to invest in India in 2024

Top pharma stocks to invest in India in 2024

stock market
Published Date: 28 Mar 2024Updated Date: 09 Jul 20246 mins readBy MOFSL
BEST PHARMA STOCKS

Introduction:

Pharma stocks represent equity shares in listed companies engaged in the manufacturing of pharmaceutical drugs and allied businesses. Over the last two decades, Indian pharma stocks have surged significantly. The value of the Nifty Pharma – the stock market index comprising listed pharma stocks – has increased at a Compound Annual Growth Rate (CAGR) of around 10%.

Open Your free Demat Account in just 5 minutes!

The pharmaceutical sector enjoyed its peak prosperity between 2009 and 2016, showcasing a remarkable CAGR of approximately 30%. During this period, pharma stocks in India exhibited significant growth and resilience to external influences like the COVID-19 pandemic. However, after this phase, a brief period of inflation affected the pharmaceutical industry and various other sectors.

But now, with the Indian economy back on track, pharmaceutical stocks are ready to soar again. In this article, you will explore the top pharmaceutical stocks that you can buy in 2024 to gain excellent long-term returns. Keep reading.

1. Sun Pharmaceutical Industries Limited

Sun Pharma is an Indian multinational pharmaceutical company headquartered in Mumbai, Maharashtra. Known for its robust product portfolio and global footprint, Sun Pharma has consistently demonstrated strong financial performance. The company's focus on research and development and its strategic acquisitions position it as a frontrunner in the industry.

As of 5 March 2024, Sun Pharma stocks were trading for Rs. 1,574.20 per share at the National Stock Exchange (NSE) and Rs. 1,574.15 per share at the Bombay Stock Exchange (BSE). These stocks have soared by 62.84% in the last year.

2. Cipla Limited

Cipla is a pioneer in the Indian pharmaceutical sector, renowned for its focus on the affordability and accessibility of healthcare. The company has a diverse product pipeline including respiratory, anti-infectives, and cardiovascular drugs. With a strong global presence and a commitment to research and development, Cipla remains an attractive choice for long-term investors.

As of 5 March 2024, Cipla’s shares were trading for Rs. 1,473.45 at the NSE and Rs. 1,473.75 per share at the BSE. The stock has recently breached its 52-week high mark and looks poised for further upside in the upcoming days.

3. Dr Reddy’s Laboratories Limited

Established in 1984, Dr Reddy’s Laboratories has evolved as a top Indian multinational pharmaceutical company with a global footprint. The company specialises in researching, developing, and marketing pharmaceutical products spanning various therapeutic areas. The company is poised for sustained growth as global demand for generic medicines continues to rise.

As of 5 March 2024, Dr Reddy’s Laboratories shares were trading for Rs. 6,303.30 per share at the NSE and Rs. 6,305.65 per share at the BSE. The stock has recently breached its 52-week high mark and seems well-positioned on price charts for further upswings.

4. Lupin Limited

Lupin is a global pharmaceutical company based in Mumbai. The company has consistently delivered strong financial performance and maintained a robust product pipeline. The company's focus on complex generics and biosimilars aligns well with evolving market trends.

As of 5 March 2024, Lupin’s shares were trading for Rs. 1,678.75 per share at the NSE and Rs. 1,678.70 per share at the BSE. The stock is currently above its short-term and long-term moving averages. The one-year return stood at 153.48%.

5. Aurobindo Pharma Limited

Aurobindo Pharma has become a key player in the Indian pharmaceutical space. The company's focus on research and development, coupled with strategic acquisitions, makes it well-poised for sustained growth. Aurobindo Pharma's strong presence in domestic and international markets makes it an appealing choice for investors.

As of 5 March 2024, Aurobindo Pharma shares were trading for Rs. 1,083.85 per share at the NSE and Rs. 1,083.50 per share at the BSE. The one-year return stood at an excellent 135.54%. 

To conclude

These top pharma stocks in India in 2024 present compelling investment opportunities for investors. However, it is essential to stay informed and adapt to the ever-changing dynamics of the industry for long-term success in the market. Before making investment decisions, you must conduct thorough research and consider factors such as the company’s financial performance, research and development initiatives, and global market positioning.

 

Related Blogs - Top sugar stocks to invest in India in 2024 | Best liquor stocks you can add to your portfolio in 2024 | 5 Best Banking Stocks to Invest in 2024 | Top 5 hotels stocks to buy in India in 2024

Trending Blogs:​​​​​​​ Invest in Small Cap & Mid Cap Mutual Fund & Stocks | US FED’s rate cut announcements | Companies affected by Rise in Crude Oil Price | Fall in IT Stocks | Launch of 4 New Indices | Revised Lot Sie of Nifty Contracts

Popular Stocks:  ICICI Bank Share Price | HDFC Bank Share Price | Britannia Share Price | Divislab Share Price | Tata Consumer Share Price

You may also like…

Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
Open Demat Account
I wish to talk in South Indian language
By proceeding you’re agree to our T&C
Click here to see your activities