Buy Sun Pharmaceutical Industries, target price Rs 988: Chandan Taparia

Chandan Taparia of Motilal Oswal has buy call on Sun Pharmaceutical Industries with a target price of Rs 988.
The current market price of Sun Pharmaceutical Industries is Rs 936.45. Time period given by analyst is Intra Day when Sun Pharmaceutical Industries Ltd. price can reach defined target.

Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 224757.70 Crore) operating in Pharmaceuticals sector.


Sun Pharmaceutical Industries Ltd. key Products/Revenue Segments include Pharmaceuticals and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 10295.57 Crore, up 4.54 % from last quarter Total Income of Rs 9848.82 Crore and up 12.50 % from last year same quarter Total Income of Rs 9151.73 Crore. Company reported net profit after tax of Rs 2130.80 Crore in latest quarter.

Investment Rationale
Higher highs on weekly scale and trading at multiple years’ high zones.

Promoter/FII Holdings
Promoters held 54.48 per cent stake in the company as of 31-Dec-2021, while FIIs owned 13.0 per cent, DIIs 21.0 per cent.