TECHNICAL ANALYSIS OF SHARE PRICES OF MAJOR HEALTHCARE FIRMS OF INDIA DURING COVID-19

Abstract

The stock market plays an important role in the growing industries and commerce of a country which ultimately affects the economy. Amidst the current outbreak of covid-19, the pandemic worries the economy a lot. Covid-19 could have a major long-term impact on the healthcare industry. The stock market provides long-term capital to listed firms by raising funds from various investors and allowing them to expand in business and also provides investors with alternative investment avenues to put their surplus funds. Investors look at the performance of the stock markets and composite market index judiciously before investing in the fund. This paper attempts to study the share price behaviour of 5 big Healthcare firms listed on NSE namely, Apollo Hospital Enterprises ltd., Aster DM healthcare Ltd., Fortis Healthcare Ltd., Healthcare Global Enterprises Ltd, and Dr. Lal Pathlabs Ltd., and the movement of stock prices of selected securities with a simple trend analysis technique. The result of this study reveals that the selected 5 companies have seen their new 52-week low and 52-week high price during this pandemic of covid-19. Apollo Hospital Enterprises Ltd. share price has seen a growth of 108% in 2021. The year of 2021 has seen an increase of 25%, 90%, 45% and 59% in the share price of Aster DM Healthcare Ltd., Fortis Healthcare Ltd., Healthcare Global Enterprises Ltd. and Dr. Lal Pathlabs Ltd. respectively.