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Stocks of pharmaceutical companies are likely to move in accordance with the broader market's performance next week, with specific movement expected in stocks of some major drug makers. Pharma stocks will respond to how the mainstream stocks perform after RBI (Reserve Bank of India) policy. Reserve Bank of India will announce its first bimonthly monetary policy for 2014-14 (Apr-Mar) on Tuesday. The policy, along with other market triggers, will keep the mainstream stocks such as banking, automobile and infrastructure in an upward momentum, thus causing a defensive sector like pharmaceutical to trade negative-to-flat.
Stocks of Ranbaxy Laboratories Ltd, which gained nearly 5% yesterday from the previous close, are however likely to continue upward momentum. Stocks of Lupin Ltd to rise further, after its acquisition of a Mexican company. We are not revising our estimate since the details related to the acquisitions have not been disclosed. However, we are positive on the company's strategy that would enable the company to stay ahead of its competition.
Stocks of pharmaceutical companies are likely to move in accordance with the broader market's performance next week, with specific movement expected in stocks of some major drug makers. Pharma stocks will respond to how the mainstream stocks perform after RBI (Reserve Bank of India) policy. Reserve Bank of India will announce its first bimonthly monetary policy for 2014-14 (Apr-Mar) on Tuesday. The policy, along with other market triggers, will keep the mainstream stocks such as banking, automobile and infrastructure in an upward momentum, thus causing a defensive sector like pharmaceutical to trade negative-to-flat.
Stocks of Ranbaxy Laboratories Ltd, which gained nearly 5% yesterday from the previous close, are however likely to continue upward momentum. Stocks of Lupin Ltd to rise further, after its acquisition of a Mexican company. We are not revising our estimate since the details related to the acquisitions have not been disclosed. However, we are positive on the company's strategy that would enable the company to stay ahead of its competition.
