Macquarie sees potential upside in Indian pharma and CDMO stocks

Macquarie is optimistic about Indian pharma and CDMO companies, predicting significant upside potential due to recent market corrections and global supply chain shifts. Indian CDMOs are favored for their cost-effectiveness and regulatory compliance. However, the brokerage remains cautious about Indian hospitals, anticipating overcapacity and assigning 'underperform' ratings to Apollo Hospitals and Max Healthcare.