Buy Cadila Healthcare with an intraday target at Rs 350: Gaurav Bissa, LKP Securities

Gaurav Bissa of LKP Securities recommends buy rating on Cadila Healthcare with a target of Rs 350 and a strict stop loss of Rs 310. Even though the stock has moved in a range so far in the year 2016 with a positive bias, the upside looks intact. The stock has already risen over 5 per cent since April.

Cadila Healthcare which is a low beta stock (0.03) is trading well above is 50 but below its 100-DMA and 200-DMA placed around Rs 334 and Rs 367.07 respectively, as per data compiled by ETMarkets.com. Cadila Healthcare is trading with a P\E of 17.1 and a P/B of 1.6.