Is India’s diagnostics sector poised for a long-term growth upswing? Axis Securities sees opportunity in three stocks
Axis Securities start coverage of 3 stocks, including Dr Lal PathLabs and Vijaya Diagnostic Centre.
· LiveMint Markets
Axis Securities sees India’s diagnostics sector entering a multi-year growth upcycle, supported by rising demand, scalable models and strong cash generation. It initiated BUY coverage on Dr. Lal PathLabs, Vijaya Diagnostic Centre and Nephrocare Health Services.
The analysis
Where the names start from: Dr Lal PathLabs is 5% below its 52-week high, +1.5% over three months; Vijaya Diagnostic Centre is 8% below its 52-week high, +6.3% over three months. A rating is set against the price on the day the note is written, so how far a stock has already run is the part of the case the headline upside leaves out.
Market context
- Brokerage calls from Axis Securities, starting coverage of 3 stocks. Of these, the 2 we track are below: Dr Lal PathLabs and Vijaya Diagnostic Centre.
- On the day, 0 of 2 are higher: Dr Lal PathLabs leads at -0.3% and Vijaya Diagnostic Centre trails at -1.3%.
- Over three months: Dr Lal PathLabs +1.5% against Pharma & Healthcare -0.9% (2.4 points ahead); Vijaya Diagnostic Centre +6.3% against Pharma & Healthcare -0.9% (7.2 points ahead).
| Company | Price | Day | 1M | 3M | From 52-wk high | Volume vs 20-day | Market cap |
|---|---|---|---|---|---|---|---|
| Dr Lal PathLabsLALPATHLAB · Pharma & Healthcare | ₹1,906.40 | -0.3% | -4.1% | +1.5% | -4.9% | 1.1× | — |
| Vijaya Diagnostic CentreVIJAYA · Pharma & Healthcare | ₹1,445.70 | -1.3% | +0.6% | +6.3% | -8.0% | 0.4× | — |
Pharma & Healthcare
1M -0.6% · 3M -0.9%
Dr Lal PathLabs, Vijaya Diagnostic Centre
Prices as of 30 Oct 2026, 16:11 IST. Sector moves are the average of the stocks we track in each sector.
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