As Coronavirus infections are surging and a number of cases in India crossed 3.5 Lakhs per day. In India, many states have arranged random Covid testing on streets, malls, airports, and many such places. The kind of stocks that will get the benefit of Covid testings are Diagnostic stocks (Covid Lab test stocks). So in this article, we are focusing on the best Covid Diagnostic stocks India 2021 in which you can invest.
3 diagnostic companies are listed on NSE & BSE which are conducting Covid tests on a large scale. Dr. Lal Pathlabs, Metropolis Healthcare, and Thyrocare Technologies are the best Covid Diagnostic stocks in India to bet on due to their attractive valuations.
Diagnostic stocks have started showing a rise in revenues due to covid testing in the 2nd wave. As lockdown is going on but these firms have adopted new norms of collecting samples from home which benefited the customer and company both.
Top 3 Covid Diagnostic stocks India 2021
Dr. Lal Pathlabs
Dr. Lal Pathlabs has acquired companies in Gujrat and Karnataka so that they can maximize their Covid testings. Edelweiss Securities Ltd expects Dr. Lal’s revenue to increase 36% y-o-y. Besides Covid Revenue they are expanding their business quite well in the medical segment. Dr. Lal Pathlabs is consistently giving 7-11 percent CAGR. We have seen a sudden spike in stock price from Rs. 2,300 to Rs. 2,840 after April due to an increase in Covid infections.
Metropolis Healthcare is the 2nd largest diagnostic firm in India due to its strong presence in South and West India. Recently Metropolis acquired Hitech Diagnostics to expand their business. Revenue for Metropolis increased up to 12% including their Covid portfolio which was a gamechanger for them. Investors are highly positive on Metropolis as stock price grew from Rs.1881 to Rs. 2329.
Thyrocare was trading at lows of Rs. 843 in March 2021 as Covid cases were reduced but as soon as we saw the spike in Covid cases in April the stock price rises to Rs. 1007. Thyrocare has a chain of Laboratories all over India that makes them a strong competitor.
This shows that investors are highly positive on diagnostic stocks as revenues are surging and India is facing the 2nd wave of Covid 19 infections.
Freqeuntly Asked Questions on Covid Diagnostic stocks India
Which are the best Covid Diagnostic stocks in India?
Dr. Lal Pathlabs, Metropolis Healthcare and Thyrocare Technologies are the best Covid Diagnostic stocks in India to bet on.
Should I invest in Covid Diagnostic stocks in India?
There are many financial firms which are positive on Diagnostic stock is in India. Dr. Lal Pathlabs and Metropolis Healthcare are expecting 7-11% CAGR this FY22 which is quite good returns. Also Covid cases increasing day by day we can see huge spike in stock prices in coming months.
Which are the stocks to benefit from Covid Vaccine in India?
Covid Diagnostic stocks, Oxygen Cylinder manufacturing stocks and Remdesivir manufacturing companies will be the most benefited from Covid Vaccine in India.