Pharma Stocks Outlook for the week – 03 to 07.08.2015
GSK
Pharma, Sun Pharma seen down; Lupin seen up
( www.rupeedesk.in )
Stocks
of major pharmaceutical companies are seen trading based on company-specific
triggers next week, with those of GlaxoSmithKline Pharma Ltd and Sun
Pharmaceutical Industries Ltd seen underperforming their peers in the sector.
Stocks of Sun Pharma, India's largest drug maker, have been on a negative run
since the company announced that its revenues for 2015-16 (Apr-Mar) will Take a
hit due to remediation charges incurred for the Halol plant and expenses
undertaken for merger of Ranbaxy Laboratories Ltd.
Another
stock that is seen trading down next week is GSK Pharma, which reported a 5.1%
fall in its net profit to 932.8 mln rupees for the June quarter, missing the
Street's expectations. Stocks of Lupin Ltd, which saw a sharp fall last week on
disappointing the market with its Apr-Jun earnings, are seen up next week.
Hyderabad-based Dr Reddy's Laboratories, which has touched lifetime high levels
during this week, is seen continuing with the positive momentum.
The
Mumbai-based drug manufacturer reported a meagre 3.3% on-year rise in its
consolidated net profit for the June quarter, which was below the analysts'
estimates. The stocks of the company, however, rose in yesterday's trade due to
rollover of long positions to the stock's August derivative contracts.
