Buy Sun Pharma, target price Rs 540: Suruchi Kapoor

Suruchi Kapoor of Edelweiss Financial Services has a buy call on Sun Pharmaceutical Industries Ltd. with a target price of Rs 540.0. The current price of Sun Pharmaceutical Industries Ltd. is Rs 500.55 Time period given by the analyst is 1-3 Days when Sun Pharmaceutical Industries Ltd. price can reach defined target. . Suruchi Kapoor recommended to keep a stoploss at Rs 475 .

Sun Pharmaceutical Industries Ltd., incorporated in 1993, has a market cap of Rs 120146.70 crore.

Investment Rationale


The stock is trading above flag breakout and continues to form higher top and higher bottom, according to the analyst.

Financials

For the quarter ended March 31, 2020, the company reported consolidated sales of Rs 8078.03 crore, up .49 per cent from last quarter sales of Rs 8038.65 crore and up 14.68 per cent from last year's same quarter sales of Rs 7044.26 crore. The company reported net profit after tax of Rs 494.35 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 54.69 per cent stake in the company as of March 31, 2020, while FIIs held 12.81 per cent, DIIs 19.56 and public and others 12.94 per cent.