Pharma Stocks Outlook for the week – 24 to 28.08.2015
Seen
positive next week on defensive buying
( www.rupeedesk.in )
Stocks
of major pharmaceutical companies will trade positive next week on account of
defensive
buying
with the broader indices seen slipping further. Domestic equities ended in the
red yesterday over last Friday, with the benchmark Nifty index losing over 200
points during the week's trade.
Global
markets continue to be weak and the Nifty may slip below 8200 next week. To
this effect, buying will take place in defensive sectors like pharma and FMCG.
Stocks of Sun Pharmaceutical Industries Ltd and Cadila Healthcare Ltd are
expected to outperform their peers in the sector. Stocks of Sun Pharma
performed firmly during this week, providing them with momentum to remain in
the green in the coming week. The company, India's largest drug maker, received
an approval from the US Food and Drug Administration to sell anti-inflammatory
drug Ximino there.
The
Street estimates the drug adding around $50-80 mln to Sun Pharma's annual
sales. Another company that picked positive momentum based on drug approvals in
the US is Hyderabad-based Aurobindo Pharma Ltd. The company received permission
from the US regulator to manufacture and market osteoporosis drug ibandronate
sodium injection, and ulcer drug omeprazole delayed-release capsules.
