While there is a partial relaxation in exports of Hydroxychloroquine, the potential first line of treatment for COVID patients, the main question is the ability to meet domestic needs
Net Sales are expected to increase by 12.8 percent Y-o-Y (up 11.3 percent Q-o-Q) to Rs. 1,125.4 crore, according to Emkay.
Net Sales are expected to increase by 9.3 percent Y-o-Y (down 7.3 percent Q-o-Q) to Rs. 939.1 crore, according to ICICI Direct.
Net Sales are expected to increase by 10 percent Y-o-Y (up 11.3 percent Q-o-Q) to Rs. 950.5 crore, according to ICICI Direct.
The market breadth was in favour of the declines with 247 stocks advancing while 1452 declined and 315 remained unchanged. On the other hand, in the BSE, 428 stocks advanced and 2095 declined and 102 remained unchanged.
The market breadth was in favour of the declines with 428 stocks advancing while 1215 declined and 367 remained unchanged. On the other hand, in the BSE, 645 stocks advanced and 1542 declined and 94 remained unchanged.
Mitessh Thakkar of miteshthacker.com is of the view that one can buy Ipca Labs and Aurobindo Pharma and can sell Siemens and Bosch.
Mitessh Thakkar of miteshthacker.com suggests buying Ceat, Cipla, Siemens, Ajanta Pharma and Ipca Labs.
Edelweiss is bearish on Ipca Labs has recommended reduce rating on the stock with a target price of Rs 440 in its research report dated April 7, 2016.
The broader markets gained 0.6 percent as about 1468 shares advanced against 1052 declining shares on BSE. Lupin, M&M, NTPC and BHEL rallied 2-4 percent while TCS, Infosys, HUL, Axis Bank and Hero Motocorp lost 1-1.7 percent.
Motilal Oswal has recommended neutral rating on Ipca Labs with a target price of Rs 680 in its research report dated February 8, 2016.
The market continued to be choppy ahead of expiry of March derivative contracts (on Thursday). The Sensex gained 12.16 points at 28173.88 while the Nifty fell 1.15 points to 8541.80.
The market continued to consolidate in noon trade with the Nifty hovering around the 8,550 mark supported by pharma and banking stocks. The broader markets were in-line with the frontliners.
The market remained rangebound with the Nifty hovering around 8540-8600 levels. Private banking & financials, FMCG and healthcare stocks supported the market whereas oil & gas, capital goods, metals and power stocks were under pressure.
Bharti Airtel topped the buying list on Sensex, up 4 percent followed by HDFC Bank, L&T, Tata Motors, HDFC, M&M, HUL and Sesa Sterlite with 1-3 percent upside. GAIL and BHEL dropped 1-2 percent. TCS, Infosys and Coal India fell 0.3-0.7 percent.
Angel Broking is bullish on Ipca Labs and has recommended buy rating on the stock with a target of Rs 986 in its August 04, 2014 research report.
Ipca Laboratories has reported a sales standalone turnover of Rs 832.95 crore and a net profit of Rs 139.12 crore for the quarter ended Dec '13
Mayuresh Joshi of Angel Broking prefers HCL Technologies and Tata Consultancy Services (TCS) from the IT pack where the earnings growth both in dollar and rupee terms will be exceptional for these companies going forward.
ICICIdirect.com has come out with its technical outlook for 2014. "Our preferred Technical picks for 2014 are TCS, Tata Motors, Colgate Palmolive, Cummins India, Ipca Laboratories, JB Chemicals and Pharma, Bosch, CMC and Kesoram Industries," says the research firm.