Elder Pharma has target of Rs 410: Thununguntla

Elder Pharma has target of Rs 410, says Jagannadham Thununguntla of SMC Global.

Thununguntla told CNBC-TV18, "Elder Pharma has target of Rs 410. It is a decent midcap pick in the pharma space and considering the current market conditions and volatility playing on a defensive midcap company. At a reasonable valuation of about 12-13 times PE multiple one year forward, in the medium-term the company can be a good rewarding stock."

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