Pharma Stocks Outlook
for the week – 18 to 22.07.2016
(Seen trading
range-bound next week, as corporate earnings)
( www.rupeedesk.in )
Stocks of pharmaceutical companies are seen trading
range-bound next week, as investors await
corporate earnings for Apr-Jun to provide fresh cues. Biocon
and its listed-subsidiary Syngene
International will announce their Apr-Jun earnings on
Thursday, while Sanofi India will detail its
earnings on Jul 22.
Stock of Biocon are in the overbought zone, some correction
is expected ahead of the announcement
of the earnings. Overall, in the pharmaceuticals space may
see some consolidation, following gains in
past month due to the recent news that manufacturing plants
of a number of pharma companies have
been cleared by the US Food and Drug Administration.
In the last two or three months, there was a marked increase
in the receipt of Establishment Inspection Reports from the US FDA. Such receipts indicate that a
facility is in compliance with standards required
by the US FDA. Most large-cap pharmaceutical are expected to trade range-bound
next week.
