Pharma Stocks Outlook for the week – 15 to 19.02.2016
(Seen
weak next week)
( www.rupeedesk.in )
Weak
earnings, regulatory woes and turmoil in the broad equity markets
are
likely to weigh on pharmaceutical stocks next week, with Wockhardt
seen
continuing its slump.
The
Mumbai-based pharmaceutical company's shares tanked 27%
through
this week, hitting a 52-week low of 705.75 rupees yesterday due
to
concern over regulatory issues pertaining to its Shendra unit in
Maharashtra,
as well as an 82% fall in consolidated net profit for the
December
quarter.
Cipla,
Dr Reddy's Laboratories and Aurobindo Pharma also reported
disappointing
earnings, while GlaxoSmithKline Pharmaceuticals reported
weak
operating margins. Aurobindo Pharma, which declined over 13%
this
week. Dr Reddy's Laboratories, which fell over 8% this week
Sun
Pharmaceutical Industries is likely to record a rebound, after
reporting
strong earnings in the last hour of trade yesterday.
