Pharma Stocks
Outlook for the week – 22 to 26.09.2014
( www.rupeedesk.in )
Stock-specific movement is
expected in shares of frontline pharmaceutical companies
due to lack of a sectoral
triggers. Overall trend in pharma sector is positive, because there
are no signs of selling happening
in the sector. CNX Pharma index has an important
support of 10300, till then no
correction is expected.
That a negative momentum has
formed in shares of Sun Pharmaceutical Industries Ltd
due to reports of the US Food and
Drug Administration's surprise audit at the company's
Halol plant. Due to the negative
momentum, the stocks could trade sideways to negative.
Stocks of Ranbaxy Laboratories
are also likely to move in line with Sun Pharma, with
which it is soon likely to be merged, subject to
regulatory approvals.
