Pharma, healthcare top bets of fund managers in March

Fund managers bought shares of pharma and healthcare companies in March as they believe the domestic pharma market is expected to grow by 12-14% led by new product launches, exports, and strong growth in the chronic segment.

They were buyers in Aurobindo Pharma, Ajanta Pharma, Wockhardt, Glenmark Pharma and diagnostic companies like Dr Lal PathLabs and Vijaya Diagnostics.

They also purchased insurance stocks like SBI Life, HDFC Life, and ICICI Prudential Life Insurance after favourable guidelines on the surrender value of policies were announced by the insurance regulator IRDAI. Also, the recent removal of the age limit on availing of health insurance is seen as boosting the prospects of life insurance companies.