Thyrocare Technologies

Thyrocare is diagnostic chains that conduct an array of medical diagnostic tests and profiles of tests that centre on early detection and management of health disorders and diseases.

Reports suggest that Union Health Minister Mansukh Mandaviya will review the Covid-19 pandemic situation, in view of a spurt in COVID-19 cases in Japan, South Korea, Brazil, China and the US.

According to the technical analyst from Anand Rathi, Metropolis Healthcare can rally to Rs 1,800, while Thyrocare Technologies can rise up to Rs 740.

An entity on Monday offloaded 5.88 lakh shares of diagnostic chain Thyrocare Technologies Ltd for Rs 36 crore through an open market transaction. Fundsmith Emerging Equities Trust Plc sold 3,20,000 shares on BSE and 2,68,707 shares on NSE, amounting to a 1.1 per cent stake in the company, as per the bulk deal data available with the National Stock Exchange and BSE. The shares were disposed of at an average price of Rs 615.14 apiece on BSE and Rs 614.79 on NSE, taking the combined transaction value to Rs 36.20 crore. However, buyer(s) of the shares could not be ascertained. As of June quarter, Fundsmith held 1.15 per cent stake in the company, shareholding pattern showed with the exchange. Shares of Thyrocare Technologies closed 2.97 per cent lower at Rs 610 apiece on BSE and slipped 2.65 per cent on NSE.

Thyrocare, Dr Lal Path Labs and Metropolis are trading almost 50 per cent below their respective all-time highs, the reversal may see breakout if the key respective levels are sustained

A graduate of IIM-B, Guha has spent almost 17 years at Boston Consulting Group (BCG), where he has led the healthcare and life sciences practice

Given the weakness seen on Monday, should you be worried regarding stocks from this sector? Here is how they look on the charts

Docon Technologies, along with API Holdings, the parent company of unicorn PharmEasy, also made an open offer for acquisition of additional 26% stake in Thyrocare at a price of Rs 1,300 per share

The combined entity will have the ability to provide diagnostics and pharmacy services to 100 million-plus Indians within 24 hours, the company said in a statement

Thyrocare's market capitalisation is around Rs 6,916 crore. The deal thus could be for a shareholding in the firm

Marksans Pharma and Novartis India from the S&P BSE Healthcare index zoomed 20 per cent each

Margin pressures and valuations would limit major upsides

Most brokerages have revised upwards their earnings estimates, not only for FY21, but also for FY22

From March lows, the stock price of Thyrocare Technologies has been more-than-tripled and of Dr Lal PathLabs more-than-doubled on the BSE

Earlier this month, the company reported nearly 37 per cent year-on-year and over 100 per cent sequential growth in aggregate revenue for Q2FY21

Sharp rise in non-Covid business and strong revenue growth indicated by Thyrocare, Metropolis prop up sentiment

A new all time high shows bullish sentiment is here to stay in these stocks.

Thyrocare Technologies, Metropolis Healthcare and Dr. Lal PathLabs, hitting their respective record highs, were up 9 per cent to 17 per cent on the BSE in intra-day trade.

The stock of healthcare services provider has now surpassed its previous high of Rs 845.25 touched on August 17, 2020

The Board has also authorised Dr. A Velumani to identify a competent candidate for the position of Managing Director, CFO, and CIO.