Budget 2024: Global Health, Shalby gain while Rainbow Children's Medicare slips after announcements on healthcare sector

Stocks from the healthcare pack traded mixed in the afternoon deals on Thursday, February 1, after the Finance Minister presented the Interim Budget 2024. Names such as Global Health, Shalby, and Krsnaa Diagnostics traded with gains of up to 3 per cent. On the other hand, Rainbow Children's Medicare and Yatharth Hospital saw a correction of up to 3 per cent.

The Finance Minister today, in her pre-election budget speech, increased the budgetary estimate for the healthcare sector from the earlier Rs 79,000 crore to Rs 90,000 crore for FY25.

Alongside, she stated that the government will encourage vaccination for girls in the age group of 9 to 14 years for the prevention of cervical cancer. Additionally, for promoting maternal and child health care, the FM said that various schemes for maternal and child care will be brought under one comprehensive programme for synergy in implementation.

Upgradation of anganwadi centres under “Saksham Anganwadi and Poshan 2.0” will be expedited for improved nutrition delivery, early childhood care, and development,” read the FM speech.

“The newly designed U-WIN platform for managing immunisation and the intensified efforts of Mission Indradhanush will be rolled out expeditiously throughout the country,” pointed out the FM.

Further, healthcare coverage as part of the Ayushman Bharat scheme will be extended to all ASHA workers, Anganwadi workers, and helpers.

Meanwhile, pharma stocks also traded mixed, with Sun Pharma witnessing a cut of over 1 per cent, while stocks like Cipla, Mankind Pharma, and Pfizer, among others, traded with gains of up to 5 per cent.

"The extension of Ayushman Bharat cover to all Anganwadi and Asha workers, along with the consolidation of maternal and child healthcare schemes into a comprehensive initiative, demonstrates a commitment to inclusive healthcare,"  Avinash Deshmukh, COO, iThrive remarked.