Indian (NIFTY) Healthcare Sector Analysis

Sector Valuation and Performance

Has the Indian Healthcare Sector valuation changed over the past few years?

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 13 Jul 2026	₹35.0t	₹6.1t	₹806.9b	33x	43.4x	5.7x
Wed, 10 Jun 2026	₹32.9t	₹6.1t	₹806.6b	31.4x	40.8x	5.4x
Fri, 08 May 2026	₹32.2t	₹5.9t	₹782.2b	32.1x	41.2x	5.4x
Sun, 05 Apr 2026	₹28.8t	₹5.9t	₹780.6b	27.2x	36.9x	4.9x
Tue, 03 Mar 2026	₹30.4t	₹5.9t	₹780.6b	28.2x	38.9x	5.1x
Thu, 29 Jan 2026	₹28.7t	₹5.7t	₹762.3b	29.2x	37.7x	5x
Sat, 27 Dec 2025	₹30.3t	₹5.7t	₹772.5b	33.3x	39.3x	5.3x
Mon, 24 Nov 2025	₹30.4t	₹5.7t	₹766.4b	32.2x	39.7x	5.3x
Wed, 22 Oct 2025	₹31.1t	₹5.5t	₹733.3b	35.5x	42.4x	5.6x
Fri, 19 Sep 2025	₹30.9t	₹5.5t	₹730.1b	37.3x	42.4x	5.6x
Sun, 17 Aug 2025	₹30.5t	₹5.5t	₹729.9b	34.7x	41.8x	5.6x
Tue, 15 Jul 2025	₹30.5t	₹5.3t	₹727.2b	36.8x	41.9x	5.7x
Thu, 12 Jun 2025	₹29.8t	₹5.3t	₹728.5b	37.1x	40.9x	5.6x
Sat, 10 May 2025	₹27.8t	₹5.2t	₹686.2b	32.7x	40.5x	5.3x
Mon, 07 Apr 2025	₹27.3t	₹5.2t	₹680.2b	32.6x	40.2x	5.3x
Wed, 05 Mar 2025	₹26.2t	₹5.2t	₹680.1b	30.3x	38.5x	5x
Fri, 31 Jan 2025	₹28.0t	₹5.1t	₹656.5b	34x	42.6x	5.5x
Sun, 29 Dec 2024	₹29.8t	₹5.0t	₹648.5b	38.7x	45.9x	5.9x
Tue, 26 Nov 2024	₹28.6t	₹5.0t	₹642.8b	38.9x	44.4x	5.7x
Thu, 24 Oct 2024	₹28.3t	₹4.9t	₹605.3b	41.6x	46.8x	5.8x
Sat, 21 Sep 2024	₹29.2t	₹4.9t	₹605.3b	42.8x	48.2x	6x
Mon, 19 Aug 2024	₹27.3t	₹4.9t	₹602.7b	37.1x	45.2x	5.6x
Wed, 17 Jul 2024	₹25.5t	₹4.7t	₹550.5b	37.9x	46.3x	5.4x
Fri, 14 Jun 2024	₹24.1t	₹4.6t	₹546.3b	35.5x	44.1x	5.2x
Sun, 12 May 2024	₹22.7t	₹4.6t	₹523.3b	34.9x	43.5x	4.9x
Tue, 09 Apr 2024	₹23.3t	₹4.6t	₹512.8b	35.9x	45.4x	5.1x
Thu, 07 Mar 2024	₹22.7t	₹4.6t	₹512.5b	34x	44.3x	4.9x
Sat, 03 Feb 2024	₹22.0t	₹4.5t	₹489.2b	38.2x	44.9x	4.9x
Mon, 01 Jan 2024	₹20.5t	₹4.4t	₹476.9b	35.4x	42.9x	4.6x
Wed, 29 Nov 2023	₹19.2t	₹4.4t	₹476.1b	33.2x	40.4x	4.4x
Fri, 27 Oct 2023	₹17.4t	₹4.3t	₹451.3b	30.8x	38.5x	4.1x
Sun, 24 Sep 2023	₹17.8t	₹4.3t	₹451.6b	32.4x	39.5x	4.2x
Tue, 22 Aug 2023	₹17.8t	₹4.2t	₹450.8b	30x	39.6x	4.2x
Thu, 20 Jul 2023	₹16.9t	₹4.1t	₹425.9b	28.6x	39.7x	4.1x

Current Industry PE

Investors are relatively neutral on the Indian Healthcare industry at the moment, indicating that they anticipate long term growth rates to remain steady.

The industry is trading close to its 3-year average PE ratio of 42.1x.

The industry is trading close to its 3-year average PS ratio of 5.2x.

Past Earnings Growth

The earnings for companies in the Healthcare industry have grown 24% per year over the last three years.
Revenues for these companies have grown 14% per year.
This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Healthcare sector?


IN Market	0.25%
Healthcare	0.33%
Healthtech	3.49%
Pharma	0.66%
Life Sciences	0.63%
Healthcare Services	-0.84%
Medical Equipment	-1.17%
Biotech	-1.96%

Industry PE

Investors are most optimistic about the Biotech industry which is trading above its 3-year average PE ratio of 68.8x.

Analysts are expecting annual earnings growth of 49.6%, which is higher than its past year's earnings decline of 30.4% per year.

Investors are most pessimistic about the Pharma industry, which is trading close to its 3-year average of 36.6x.

Forecasted Growth

Analysts are most optimistic on the Biotech industry, expecting annual earnings growth of 50% over the next 5 years.
This is better than its past earnings decline of 30% per year.

In contrast, the Pharma industry is expected to see its earnings grow by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

Company	Last Price	7D	1Y	Valuation
SUNPHARMA Sun Pharmaceutical Industries	₹1.94k	1.6% +₹73.7b	15.8%	PE40.5x
500420 Torrent Pharmaceuticals	₹4.90k	2.9% +₹46.6b	48.0%	PE76.7x
DIVISLAB Divi's Laboratories	₹6.84k	1.2% +₹21.0b	0.01%	PE70.7x
RUBICON Rubicon Research	₹1.43k	9.5% +₹20.5b	n/a	PE95.6x
GLENMARK Glenmark Pharmaceuticals	₹2.28k	3.3% +₹20.3b	4.7%	PE47.3x

Company

Last Price

Valuation

SUNPHARMA Sun Pharmaceutical Industries

₹1.94k

1.6%
+₹73.7b

15.8%

PE40.5x

500420 Torrent Pharmaceuticals

₹4.90k

2.9%
+₹46.6b

48.0%

PE76.7x

DIVISLAB Divi's Laboratories

₹6.84k

1.2%
+₹21.0b

0.01%

PE70.7x

RUBICON Rubicon Research

₹1.43k

9.5%
+₹20.5b

n/a

PE95.6x

GLENMARK Glenmark Pharmaceuticals

₹2.28k

3.3%
+₹20.3b

4.7%

PE47.3x

Biocon Limited Announces Publication of Pivotal Clinical Data Supporting Effectiveness of Yesafili, A Biosimilar to Eylea

Biocon Limited announced the publication of two important clinical studies supporting the effectiveness of Yesafili (aflibercept-jbvf). The clinical data from the Phase III INSIGHT program evaluating MYL-1701P, its aflibercept biosimilar, was published in two peer-reviewed journals, contributing to the clinical evidence base supporting the development of aflibercept MYL-1701P for the treatment of diabetic macular edema (DME). MYL-1701P was approved and the vial format was granted interchangeable designation under the name Yesafili by the U.S. Food and Drug Administration in May 2024. The first manuscript, titled “Safety and Efficacy of Biosimilar Aflibercept MYL-1701P in Diabetic Macular Oedema: 20-Week Extension Results Following the INSIGHT Pivotal Trial,” was published in the British Journal of Ophthalmology on June 29, 2026. This publication reports results from a 20-week, multicenter, open-label extension study enrolling participants with Diabetic Macular Edema (DME) who completed the 52-week global Phase III INSIGHT trial. The study evaluated the safety, efficacy and immunogenicity of MYL-1701P in participants who either continued treatment with MYL-1701P or switched from reference aflibercept to MYL-1701P. The results demonstrated comparable safety, efficacy, and immunogenicity profiles between participants who continued on MYL-1701P and those who switched from reference aflibercept. Safety was assessed by the incidence of ocular and non-ocular treatment-emergent adverse events, while efficacy outcomes included best corrected visual acuity, central subfield thickness and participants who gained ETDRS (Early Treatment Diabetic Retinopathy Study) letters. The findings demonstrate that functional and anatomic outcomes were maintained through the extension period in both treatment groups. The second manuscript, titled “Comparability of Aflibercept Biosimilar with Reference Aflibercept in Diabetic Macular Edema: Subgroup Analysis of the Pivotal Phase-III INSIGHT Randomized Clinical Trial,” was published on May 18, 2026 in Expert Opinion on Biological Therapy. This publication presents exploratory subgroup analyses from the Phase III INSIGHT randomized clinical trial comparing MYL-1701P with reference aflibercept in participants with DME. Subgroups were defined based on baseline characteristics including visual acuity, central subfield thickness, age, gender, race, ethnicity, geographic region, glycated hemoglobin, anti-drug antibody status, and prior anti-VEGF therapy in the fellow eye. The subgroup analyses showed clinically comparable changes in best corrected visual acuity and central subfield thickness between MYL-1701P and reference aflibercept across most subgroups at both early and later timepoints. The findings support clinical equivalence between the aflibercept biosimilar and reference product within the evaluated subgroups. There are 19,800,000 Americans living with age-related macular degeneration (AMD) in the United States. Macular degeneration, specifically age-related macular degeneration (AMD), is a significant health concern, especially as the population ages. It is a leading cause of irreversible vision loss in adults over 60. In 2019, an estimated 12.6% of Americans age 40 and older were living with AMD, with 1,490,000 (0.94%) living with vision threatening. The approval for YESAFILI (aflibercept-jbvf) was based on a comprehensive package of analytical, nonclinical and clinical data, which confirmed that YESAFILI is highly similar to Eylea. In a Phase III INSIGHT Study, YESAFILI was compared with EYLEA in patients with Diabetic Macular Edema. The study demonstrated that there were no clinically meaningful differences between YESAFILI and EYLEA in terms of pharmacokinetics, safety, efficacy, and immunogenicity. YESAFILI is a vascular endothelial growth factor (VEGF) inhibitor indicated for the treatment of patients with Neovascular (Wet) Age-Related Macular Degeneration (AMD), Macular Edema Following Retinal Vein Occlusion (RVO), Diabetic Macular Edema (DME), and Diabetic Retinopathy (DR). YESAFILI is contraindicated in patients with Ocular or periocular infection, Active intraocular inflammation and Hypersensitivity to aflibercept. Endophthalmitis, retinal detachments, and retinal vasculitis with or without occlusion may occur following intravitreal injections. Increases in intraocular pressure have been seen within 60 minutes of an intravitreal injection. There is a potential risk of arterial thromboembolic events following intravitreal use of VEGF inhibitors.

Indian (NIFTY) Healthcare Sector Analysis

Sector Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

Sun Pharmaceutical Industries Limited to Report Q1, 2027 Results on Jul 31, 2026

Investor sentiment improves as stock rises 35%

Biocon Limited Announces Publication of Pivotal Clinical Data Supporting Effectiveness of Yesafili, A Biosimilar to Eylea

Price target increased by 10% to ₹2,638

DIVISLAB: Upcoming Board Decisions And Fair Value Assumptions Will Shape Balanced Outlook

GLENMARK: Updated US Portfolio And Margin Assumptions Will Shape Future Earnings

AUROPHARMA: Margin Reset Buyback And New Approvals Will Shape Future Balance

Rising CRAMs Pipeline And New Sites Will Reshape Long Term Earnings Power

Full year 2026 earnings: Revenues and EPS in line with analyst expectations

Wockhardt Limited, Annual General Meeting, Aug 10, 2026

Upcoming dividend of ₹8.00 per share

New minor risk - Share price stability

543220: Upcoming Expansion Projects Will Support Stronger Long-Term Upside Potential

Cipla Limited to Report Q1, 2027 Results on Jul 23, 2026

500420: Dividend Payouts And Stable Assumptions Will Support A Balanced Outlook

ALKEM: Elevated P/E Will Persist Despite New Diabetes And Nutrition Launches