Sharekhan's research report on Sun Pharmaceutical Industries
The stock price has corrected by ~ 12% over the past two months and the valuations are now attractive. Growth in the specialty business with strong product pipeline and portfolio, new product launches and steady growth in US generics are drivers for US business. Strong growth across therapies and traction from new launches and field force expansion would be the key drivers for India business and basis this Sun Pharma looks to outpace the industry growth. Improved growth prospects across businesses and a healthy balance sheet position are the key positives.
We re-iterate our Buy recommendation on the stock of Sun Pharma with an unchanged price target of Rs. 1,000.
At 16:01 hrs Sun Pharmaceutical Industries was quoting at Rs 840.55, up Rs 12.60, or 1.52 percent.
It has touched an intraday high of Rs 843.00 and an intraday low of Rs 823.55.
It was trading with volumes of 100,323 shares, compared to its thirty day average of shares, a decrease of percent.
In the previous trading session, the share closed down 0.96 percent or Rs 8.00 at Rs 827.95.
The share touched its 52-week high Rs 966.90 and 52-week low Rs 664.10 on 29 April, 2022 and 09 July, 2021, respectively.
Currently, it is trading 13.07 percent below its 52-week high and 26.57 percent above its 52-week low.
Market capitalisation stands at Rs 201,676.10 crore.
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