Prabhudas Lilladher is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 837 in its research report dated March 09, 2018.
In the current week, selling pressure was intensified on the breach of lower band of the broader consolidation range of 10300.
The Nifty50 is likely to open higher on Thursday tracking positive trend seen in other Asian markets. The index closed 95 points lower at 10,154.
ICICI Direct is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 715 in its research report dated February 09, 2018.
In a BSE filing Ipca Laboratories announced "acquisition of 100 per cent share capital of Pisgah Labs Inc, a North Carolina Corporation" by Ipca Pharmaceutical Inc, USA and Onyx Scientific Ltd., U.K (Onyx) (company's wholly owned step down subsidiary) for USD 9.65 million free of debt".
The company had posted a net profit at Rs 54.95 crore during the same period of previous fiscal, Ipca Laboratories said in a regulatory filing.
Mitessh Thakkar of miteshthacker.com suggests buying IPCA Laboratories and PC Jeweller.
Pharma stocks have been on an upward trend. In an interview to CNBC-TV18, Deepak Malik, Pharma Analyst of Edelweiss Securities discussed what is happening in the sector.
Net total income of the company also declined to Rs 719.14 crore for the quarter under consideration as against Rs 859.54 crore for the same period a year ago.
Ipca is one of the worst affected companies by the US regulator's action.
Drug maker Ipca Laboratories on Tuesday said that US FDA hasn't carried out any new inspections at three of its manufacturing units under scanner.
Axis Mutual Fund A/C Axis Long Term Equity Fund sold 11,08,795 shares of Ipca Laboratories.
The ban of all drugs will continue until the company can demonstrate that the drugs manufactured sites and intended for the US market are in compliance with Current Good Manufacturing Practice (cGMP).
ICICI Direct recommended hold rating on Ipca Laboratories with a target price of Rs 525 in its research report dated May 31, 2017.
Given high price erosion in hydroxychloroquine, UBS believes US revenue could continue to be under pressure
Ashish Kyal of Waves Strategy Advisors advises selling Engineers India with a target of Rs 139.
Ashish Kyal of Waves Strategy Advisors advises buying Century Textiles with a target of Rs 1040.
Warning letters resolutions are taking more time than ever before. Only 9 out of 108 warning letters have been sorted taking an average of 500 days. Data for India and China is even bleaker with just one resolution out of the 64 WLs issued in past 52 months, according to Edelweiss report.
Axis Direct is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 580 in its research report dated February 16, 2017.
ICICI Direct recommended hold rating on Ipca Laboratories with a target price of Rs 560 in its research report dated February 13, 2017.
The brokerage firm says that even on assuming only 12 percent Nifty earnings growth in FY18 due to spillâ€over of demonetisation, valuations are factoring much damage at price to earnings (PE) of 17 times.
Here are a few top buzzing midcap stocks picked by CNBC-TV18's analysts in trade today -- IndusInd Bank, Shiva Cement, Suzlon Energy and Ipca Laboratories.
â€œThe third party consultants are regularly visiting our manufacturing units which are under USFDA import alert/warning letter and are assisting us in implementing robust remediation measures in a proper and timely manner,â€ Ipca said in a clarification to stock exchanges.
Rajesh Kothari, Managing Director at AlfAccurate Advisors has a bullish stance on Ipca Laboratories and feels that earnings growth can be very strong over the next 2-3 years.
Nomura maintains buy call with target unchanged at Rs 900 per share as volumes could improve further and margin may improve in second half.