Even as the bears are running wild on the street causing across-the-board damage, there are sectors that have kept them at bay. And that’s because the nature of their business is such that demand hardly comes down. Select small-cap pharma companies which kept their focus on the domestic market while also looking at global markets and are thus better placed, fall in this category. A number of them kicked off restructuring plans long back, in some cases three-four years ago. Those plans are close to bearing fruit. But, yes, in the short term, Trump’s reciprocal tariff may lead to some pressure, pretty similar to what has been happening to all parts of the market.
