Pharma Stocks Outlook for the week – 21 to 24.12.2015
(Expected
to trade rangebound, with the positive momentum)
( www.rupeedesk.in )
Stocks
of pharmaceutical companies are expected to trade rangebound
next
week, with the positive momentum in midcap stocks seen
Continuing.
Aurobindo
Pharma, Natco Pharma, Torrent Pharmaceuticals and
Wockhardt
may continue to trade on a stronger note, while large caps
such
as Sun Pharmaceutical Industries, Lupin and Cipla are likely to
consolidate
in a narrow range.
Aurobindo
Pharma has risen significantly over last few months, it is
unlikely
to see any major correction. Aurobindo Pharma received
approval
from the US Food and Drug Administration for its generic of
Solu-Medrol
injection and generic of Imodium A-D tablets this week.
Natco
Pharma is also expected to move towards the 600 rupees mark in
the
near term. Pharma stocks will continue to find investors' interest in
the
coming week, as defensive sectors will be preferred given the
prevailing weak broader
market sentiment.