Markets

Buy Sun Pharmaceutical Industries, target Rs 655: Gaurav Ratnaparkhi

Gaurav Ratnaparkhi of Sharekhan has a buy call on Sun Pharmaceutical Industries with a target price of Rs 655.

The current market price of Sun Pharmaceutical Industries is Rs 613.50.

Time period given by the analyst is two weeks when Sun Pharmaceutical Industries price can reach the defined target.

Gaurav Ratnaparkhi recommended keeping a stop loss at Rs 588.

"The stock has been trading in sideways manner for last couple of weeks. As a result it has formed a bullish Inside bar on the weekly chart. On the downside, the stock is getting support near its crucial weekly moving averages. Thus the stock seems to be preparing for a sharp bounce back. The hourly & daily momentum indicators have given fresh buy signals. Hence, the stock can head towards its daily & weekly upper Bollinger Bands," Ratnaparkhi said.

Sun Pharmaceutical Industries, incorporated in the year 1993, is a large-cap company (having a market cap of Rs 1,45,974.91 crore) operating in Pharmaceuticals and health care sector.

The companys top management includes Mr.Ashwin Dani, Mr.Dilip S Shanghvi, Mr.Gautam Doshi, Mr.Israel Makov, Mr.Kalyanasundaram Subramanian, Mr.Keki M Mistry, Mr.S Mohanchand Dadha, Mr.Sailesh T Desai, Mr.Sudhir V Valia, Mr.Vivek Chaand Sehgal, Ms.Rekha Sethi.

The company has S R B C & Co. LLP as its auditors.

As on 30-06-2018, the company has a total of 2,399,324,494 shares outstanding.

Original Article

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