COVID-19, Economy, Pharmaceutical sector, Stock Market Index, Econometric test


The rampant spread of COVID-19 outbreak, across borders and geographies, has severely impacted almost the whole world and triggered significant downside risks to the overall global economic outlook. Due to the lockdown announced by the Indian Government, the economy may slow over the next few months. For most businesses, the slowdown could be in the form of supply disruptions, fall in consumption demand, and stress on the banking and financial sectors. There has been distress in many sectors. It was also observed that this pandemic situation could boost business in sector and may highly affect some sectors. There observed a mixed response in Pharmaceutical sector. Some experts predicted positive impact however few pharmaceutical companies reported loss during this period. This created a curiosity to test the performance of pharmaceutical companies with their stock price as performance indicator. We propose to consider the sample period as first nationwide lockdown date to June 30, 2020. Closing price of selected companies share price will be considered in the study and we use econometric test to test the performance.