Pharma Stocks Outlook for the week - 13 to 17.02.2017
Pharma Stocks Outlook for the week - 13 to 17.02.2017
( www.rupeedesk.in )
Stocks of most pharmaceutical companies are likely to rise next week as investors may buy these stocks at lower levels following a correction in them over the last few weeks.
Earnings of Sun Pharmaceutical Industries, due next week, will be a key trigger for the stock. The Dilip Shanghvi-led company is expected to report a consolidated net profit of 18.4 bln rupees for Oct-Dec. Market participants will watch out for the management's comments on resolution of the warning letter the company's Halol facility received from the US Food and Drug Administration in December
2015. The management's timeline on resolution of the US FDA import alert on erstwhile-Ranbaxy Laboratories will also be watched. Earnings of GlaxoSmithKline Pharmaceuticals, due today, will be a key trigger for its stock next week. Among other stocks, shares of Dr Reddy's Laboratories may rebound next week after it declined on account of weak earnings this week. The Nifty Pharma index had risen for four days and then it declined.It is currently near its support level of 10350 points, and could rise from here.
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Pharma Stocks Outlook for the week - 13 to 17.02.2017
( www.rupeedesk.in )
Stocks of most pharmaceutical companies are likely to rise next week as investors may buy these stocks at lower levels following a correction in them over the last few weeks.
Earnings of Sun Pharmaceutical Industries, due next week, will be a key trigger for the stock. The Dilip Shanghvi-led company is expected to report a consolidated net profit of 18.4 bln rupees for Oct-Dec. Market participants will watch out for the management's comments on resolution of the warning letter the company's Halol facility received from the US Food and Drug Administration in December
2015. The management's timeline on resolution of the US FDA import alert on erstwhile-Ranbaxy Laboratories will also be watched. Earnings of GlaxoSmithKline Pharmaceuticals, due today, will be a key trigger for its stock next week. Among other stocks, shares of Dr Reddy's Laboratories may rebound next week after it declined on account of weak earnings this week. The Nifty Pharma index had risen for four days and then it declined.It is currently near its support level of 10350 points, and could rise from here.
