Bengaluru, July 24 -- A diagnostics chain built on volume and low prices is trying something different this quarter, and the market appears to have noticed. India's pathology testing market has spent the last two years consolidating around a handful of national chains, with price competition squeezing margins across the sector. Against that backdrop, operators are hunting for higher-value tests to protect profitability, and Thyrocare's Q1 numbers suggest that shift is starting to pay off.

With a market capitalisation of Rs. 9,473.35 crore, the shares of Thyrocare Technologies were trading at Rs. 594.40 per share, up 9 percent from its previous closing price of Rs. 545.25 apiece. It is trading at a P/E of around 53.65x, a premium that lea...