Best Diagnostics Stocks in India

Throughout the COVID-19 pandemic, diagnostic companies played a pivotal role by creating and distributing essential tests to identify the virus. They became frontline warriors, supplying vital diagnostic tools crucial for containment and guiding public health responses. Initially, these firms experienced a surge in demand for testing kits, leading to increased investor interest and investment in the sector. Companies specialising in PCR and rapid antigen tests saw substantial stock price surges as they became central to global pandemic control.

Despite successes in controlling the virus and vaccinating large populations, its new variants continued to present challenges. This emphasised the ongoing significance of diagnostic companies. Consequently, their stock prices might experience renewed volatility due to increased demand for variant-specific tests and technologies capable of detecting and monitoring these new strains. In this article, we will be exploring the Diagnostic stocks listed in the Indian market.

Dr Lal Pathlabs 

Dr Lal PathLabs Limited is one of India’s leading consumer healthcare brands in diagnostic services. It boasts an integrated nationwide network where patients and healthcare providers are offered a broad range of diagnostic and related healthcare tests and services for core testing, patient diagnosis, and the prevention, monitoring, and treatment of diseases and other health conditions. The company has around 277 labs across India as of March 31, 2023.

The company’s stock is trading higher today compared to the previous day’s closing price at Rs 2,531 per share on the BSE. The company possesses a market capitalisation of Rs 21,131 crore. Additionally, the stock has generated a moderate return of around 20% in the past six months.

Metropolis Healthcare 

Metropolis Healthcare Limited is one of the leading Indian diagnostics companies. The company owns a chain of diagnostic centres across India, South Asia, Africa, and the Middle East. Metropolis Healthcare Ltd is the second-largest diagnostic company in India and the largest player in Western and Southern India. The company has a presence across 20 states and more than 200 cities. It also has an overseas presence in eight countries, including Sri Lanka, Ghana, UAE, Kenya, and Mauritius.

The company’s stock is trading higher today compared to the previous day’s closing price at Rs 1,625 per share on the BSE. The company’s present market capitalisfation stood at Rs 8323 crore. Additionally, the stock has generated a moderate return of around 18% in the past six months.

Vijaya Diagnostics 

Vijaya Diagnostics Centre Limited is a prominent provider of diagnostic Medicare services in Southern India. It offers comprehensive services encompassing nuclear medicine, radiology, laboratory tests, health check-ups, and medical services. The company extends its services across 13 cities through its network of 81 diagnostic centres and 11 reference laboratories.

The company’s stock is trading higher today compared to the previous day’s closing price at Rs 632 per share on the BSE. The company’s present market capitalisation stood at Rs 6465 crore. Additionally, the stock has generated an impressive return of around 54% in the past six months.

Thyrocare Technologies Limited 

Thyrocare Technologies operates within the healthcare industry, offering quality diagnostic services at affordable rates to patients, laboratories, and hospitals in India. Established in 1996 as a singular, cost-effective thyroid testing centre in Mumbai, it has evolved into the world’s leading diagnostic chain. Today, Thyrocare Technologies provides an extensive array of medical diagnostic tests and specialises in disease and disorder management.

The company’s stock is trading higher today compared to the previous day’s closing price at Rs 640 per share on the BSE. The company’s present market capitalisation stood at Rs 3,387 crore. Additionally, the stock has generated an impressive return of around 34% in the past six months.

Krsnaa Diagnostics Limited 

Krsnaa Diagnostics offers a variety of technology-enabled diagnostic services, including imaging, clinical laboratory, and teleradiology services, catering to hospitals, medical colleges, and community health centres across India. The company boasts an extensive network that covers non-metro areas, lower-tier cities, and towns. Krsnaa stands out as one of the fastest-growing diagnostic service providers in the country. Over the years, its geographical presence has expanded significantly, growing from 50+ centres in FY17 to over 2,000+ centres.

The company’s stock is trading higher today compared to the previous day’s closing price at Rs 750 per share which is around a 3.98% increase on the BSE. The company’s present market capitalisation stood at Rs 2,424 crore. Additionally, the stock has generated a return of around 30% in the past six months.

Fortis Healthcare Limited

Fortis Healthcare Limited, established in February 1996, stands as a prominent integrated healthcare service provider in India, offering a comprehensive range of services, including hospitals, diagnostics, and speciality daycare facilities. The diagnostics segment is managed through its subsidiary, SRL Limited, which is among the largest private diagnostics chains with a widespread presence across 600 cities and towns, featuring 415 laboratories, 8,200 direct clients, and 1,400 Collection Centers. In Q2 FY24, the diagnostics vertical contributed approximately 20% to the total revenue, reaching Rs 360 crore.

Today, Fortis Healthcare’s stock is trading higher than the previous day’s closing price of Rs 399 per share on the BSE. The company’s market capitalisation presently stands at Rs 30,190 crore. Over the past six months, the stock has demonstrated a noteworthy return of around 30%.

Global Health Limited

Global Health Limited stands as a leading private provider of multi-speciality tertiary care, dedicated to serving the North and East regions of India. In January 2023, the company marked a significant milestone with the launch of Medanta Labs, strategically establishing 22 collection centres across key cities, including Gurgaon, Patna, Noida, Lucknow, and Indore. These centres function as accessible hubs for patients seeking a diverse range of diagnostic tests and services. The company’s strategic plan involves the phased expansion of these services, starting with states where hospital labs are already established in Phase 1, followed by an ambitious scaling up to over 10 labs and 125 collection centres in Phase 2.

Shares of Global Health Limited are trading higher than the previous day’s closing price, currently valued at Rs 935 per share on the BSE. The company’s market capitalisation presently stands at Rs 25,111 crore. Impressively, the stock has generated a positive return of around 47% in the past six months.

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