Pharma Stocks Outlook for the week – 21 to 25.07.2014
(www.rupeedesk.in)
(www.rupeedesk.in)
Stocks of pharmaceutical companies
are likely to trade in a range owing to profit
booking after a few-week-long upward
run, with some of them trading according to
expectation and Apr-Jun results. The
CNX Pharma index is seen trading in a range of
8,775-8,870 points. Pharma companies
stocks are seen trading sideways next week
after a good positive run for a few
weeks. But there are no reversal signs seen in the
sector so far.
Heavyweight stocks such as Sun
Pharmaceutical Industries Ltd, Lupin Ltd, and Dr
Reddy's Laboratories are likely to
trade positively in the build-up to their earnings.
Biocon Ltd, Glenmark Pharmaceuticals
Ltd, Sanofi India Ltd, Pfizer Ltd, Novartis India
Ltd, and Strides Arcolab Ltd will
next week detail their earnings for the quarter ended
June. Biocon's revenues are likely to
grow by nearly 16% on year, while its operating
margins are likely to improve by 230
basis points to approximately 24% on higher
growth from the domestic branded
businesses. The company will report its quarterly
earnings on Thursday.
For Glenmark Pharma, we have seen its
net profit rising 4.7% on year to 1.35 bln
rupees on the back of a 19% on-year
rise in net revenues. Glenmark Pharma will also
report its earnings on Thursday.
