Pharma Stocks Outlook for the week – 25 to 29.04.2016
(Stock-specific
movement likely; earnings eyed)
( www.rupeedesk.in )
Stock-specific
movement is likely in the pharmaceutical space in the coming week with
investors
keeping an eye on earnings for the Jan-Mar quarter. Biocon and its listed arm,
Syngene
International, will release earnings on Tuesday, Alembic Pharmaceuticals on
Wednesday,
Granules India on Thursday and Ajanta Pharma and Sanofi India on Apr
29.
Bengaluru
based Biocon's consolidated net profit is seen down 45.3% on year at 1.10
bln
rupees and net sales up 6.2% at 8.81 bln rupees during Jan-Mar. Alembic's
Pharma's
consolidated
net profit is likely to rise 133.1% on year to 1.64 bln rupees and net sales
may
increase 55.8% to 7.82 bln rupees.
Glenmark
Pharmaceuticals, which rose 4% this week, may continue see some
consolidation
next week. Easing concerns over regulatory issues at Glenmark's Indore
plant
are likely to provide support to the stock.
The
three observations made by the US Food and Drug Administration on Glenmark's
Indore
unit are benign and not related to data integrity. The fact that Glenmark has
received
two product approvals in the US from the Indore plant post FDA observations
also
eases concerns over any holdback of approvals by the regulator.