Buy Cadila Healthcare, target Rs 248: Vikas Jain

Vikas Jain of Reliance Securities has a buy call on Cadila Healthcare Ltd. with a target price of Rs 248.0 . The current market price of Cadila Healthcare Ltd. is Rs 223.85. Time period given by the analyst is Intra Day when Cadila Healthcare Ltd. price can reach the defined target. Vikas Jain recommended to keep stoploss at Rs 207. Cadila Healthcare Ltd., incorporated in 1995, has a market cap of Rs 22501.53 crore.
The stock has being trending in a range of 215-230 levels over the past few months and witnessing positive momentum over the past few days.

Investment Rationale
Crossover of the medium term averages will give a breakout from the current range and positive weekly close reinforce our positive stance.


In case of decline, the swing lows would act as a reversal for the stock negating the positive momentum.

Long position can be initiated in the stock for a target of Rs 248 with a stop loss of Rs 207.

Company Financials

For the quarter ended 30-06-2019, the company has reported a consolidated sales of Rs 3406.20 crore, down -5.89 % from last quarter sales of Rs 3619.50 crore and up 23.03 % from last year same quarter sales of Rs 2768.70 crore. The company has reported net profit after tax of Rs 314.80 Crore in latest quarter.