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Pharma & tech offer safe bets

Pharma & tech offer safe bets
Pharma & tech offer safe bets
Deal wins and pipeline remain healthy, said Hemang Jani, head of equity strategy, broking & distribution at Motilal Oswal.

Synopsis

IIFL said the performance of Tech Mahindra in 2019-20 indicates improved execution on margins even though revenues declined 10 per cent over the previous year. Covid-19 has derailed the trend, right-shifting the margin recovery by at least a year. A revival in revenues is key to further re-rating in the near term, said IIFL.

The rout in Indian markets has turned investors towards defensive picks and experts believe that they are likely to remain geared towards IT and pharma in the coming months as well despite the over 50 per cent surge in benchmark indices from their March lows. From March 24 — when the Sensex hit its 2020 low — the BSE IT index has gained51 per cent and the BSE Healthcare is up close to 68 per cent. The BSE Sensex has gained about 47 per cent
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