Pharma Stocks Outlook for the week – 20 to 24.04.2015
( www.rupeedesk.in )
Stocks
of frontline pharmaceutical companies are seen negative on profit booking in
the upcoming week. Stocks of most the companies in the sector rallied in the
last few weeks, but may head towards retracement next week. Bearish trend in
the short-term in the pharma sector is likely to prevail in the next week. We
remain bullish for the medium-term perspective.
The
street is also eyeing Jan-Mar quarterly results, which will be announced from
next week.
The
Jan-Mar bottomline across the sector is likely to grow slower at 9.5% on higher
depreciation in the quarter. Sharp depreciation of key emerging market
currencies and Euro, along with paucity of new product approvals in the US
would impact the companies' quarterly performance.
Sun
Pharmaceutical Industries Ltd, Lupin Ltd, Glenmark Pharmaceuticals Ltd and
Cipla Ltd are likely to report domestic growth in excess of 15% for Jan-Mar.
Shares of Glenmark Pharma would also be eyed next week as the company said it
had sought shareholder approval to raise 9.4 bln rupees.
