You are here: Home » Markets » News
Business Standard

Dr Lal PathLabs, Thyrocare slip on profit booking on Covid vaccine optimism

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

Dr Lal PathLabs | Thyrocare Technologies | Buzzing stocks

SI Reporter  |  Mumbai 

Dr Lal PathLabs: Street worried over rising pressures

Shares of diagnostics companies like and slipped 8 per cent on the BSE on Tuesday on Covid-19 vaccine optimism.

The stock of plunged 8 per cent to Rs 2,096, while dipped 7 per cent to Rs 1,052 on the BSE today. In comparison, the S&P BSE Sensex was up 1 per cent at 43,059 points, at 11:17 am.

From March lows, the stock price of has more-than-tripled from Rs 410 and of more-than-doubled from Rs 1,182 on the BSE. Analysts attribute the sharp rally in these stocks to healthy operational income due to higher revenue from Covid-19 tests.

According to Reuters report, Pfizer Inc's experimental Covid-19 vaccine was more than 90 per cent effective based on initial trial results, the company said on Monday, a major victory in the fight against a pandemic that has killed over a million people and battered the world's economy.

Pfizer and its German partner BioNTech SE said they had so far found no serious safety concerns and expected to seek U.S. authorization this month for emergency use of the vaccine, raising the possibility of a regulatory decision as soon as December. CLICK HERE TO READ FULL REPORT

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Tue, November 10 2020. 11:30 IST