Pharma Stocks Outlook for the week – 18 to 22.08.2014
( www.rupeedesk.in )
( www.rupeedesk.in )
Stocks of major pharmaceutical stocks are seen trading in a
narrow range next week in
the absence of any major trigger. However, company-specific
movement could be seen
on account of Apr-Jun earnings.
The mood of the market will announcements made on policy
issues and other important
decisions would be key drivers next week. Stocks of Cipla
are seen falling as the
company lastday reported lower-than-expected results post
market hours. The company's
net profit for the Apr-Jun quarter fell over 39% on year to
2.95 bln rupees. Net sales
during the period increased 13.5% on year to 26.47 bln
rupees.
Stocks of Sun Pharma are also seen increasing next week on
reports that global ratings
agency Jefferies has upgraded and raised their target
prices.
Jefferies reportedly said Sun Pharma reported results ahead
of expectation, led by betterthan-
expected margins and lower tax rate. "Going forward we
expect growth to improve
as Taro revenues improve led by recent price hikes and India
and US ex Taro remains
strong. Retain Buy with revised target price of 930 rupees.
Mid-cap pharma stocks were seen doing good next week. Given
the gradual recovery in the
world economy, export-driven stocks were seen increasing in long-term.
