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Stocks of pharmaceutical companies are seen falling next week because of profit booking. Most of the companies have not declared their result dates, so before that we can see some profit booking. In the long-term, the sector is seen as an outright outperformer but in the near-term, some profit booking is seen. The pharma sector as such has come near a very important resistance line, so there is a possibility that we might see some sideways consolidation or correction. Seeing the sector underperform today, it appears like the stocks in the sector could consolidate in the range of three percent. He added that most stocks in the sector are also expected to trade range bound within a range of three percent, plus or minus. Commerce Minister Anand Sharma today raised the issue of restrictive regime on imports of pharmaceuticals and other items with Indonesia's trade minister Gita Wirjawan. The Indonesian minister assured a constructive review of its policy and welcomed Indian investment in the pharmaceutical sector in Indonesia.
Stocks of pharmaceutical companies are seen falling next week because of profit booking. Most of the companies have not declared their result dates, so before that we can see some profit booking. In the long-term, the sector is seen as an outright outperformer but in the near-term, some profit booking is seen. The pharma sector as such has come near a very important resistance line, so there is a possibility that we might see some sideways consolidation or correction. Seeing the sector underperform today, it appears like the stocks in the sector could consolidate in the range of three percent. He added that most stocks in the sector are also expected to trade range bound within a range of three percent, plus or minus. Commerce Minister Anand Sharma today raised the issue of restrictive regime on imports of pharmaceuticals and other items with Indonesia's trade minister Gita Wirjawan. The Indonesian minister assured a constructive review of its policy and welcomed Indian investment in the pharmaceutical sector in Indonesia.
