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AstraZeneca India stock jumps 24% in 2 months on hopes of parent’s covid vaccine

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₹3,209.95 on the National Stock Exchange.Currently, AstraZeneca Pharma India is trading at price to earnings (P/E) ratio of 115.19, nearly four times the P/E of 30.56 for the Nifty Pharma index, according to data on the NSE.“The only explanation for the rise is the hope that AstraZeneca India will benefit from the covid-19 vaccine its parent is developing," an analyst with a domestic brokerage said, on condition of anonymity.Over the 12 months ended May, AstraZeneca India clocked sales of ₹667 crore, and while the growth of 8.7% is faster than the industry average of 6.4%, the sales account for less than 0.5% in market share, data from market research firm AIOCD-AWACS showed.The only India connection to the vaccine trial is that the.

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