Pharma Stocks Outlook: Seen range-bound next wk tracking broad mkt
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B. Karthick
Jul 26, 2008, 4:36:57 AM7/26/08
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Pharma Stocks Outlook: Seen range-bound next wk tracking broad mkt
Saturday, Jul 26
Shares of pharmaceutical companies are seen range-bound next week
tracking the broad market.
Sun Pharmaceutical shares are seen up next week as the company is
set to announce its Apr-Jun earnings on Monday.
Sun Pharma stock has support at 1,270 rupees and resistance at
1,510 rupees, which is also its 52-week high.
Apart from Sun Pharma, the rest of drug company shares are seen
sideways.
Cipla is likely to see a new support at 215 rupees while Dr
Reddy's Laboratories has support at 610 rupees.
Ranbaxy Laboratories, which will announce its Apr-Jun earnings on
Tuesday, is likely to be driven more by news inflow.
Hence the Ranbaxy stock could initially see some buying ahead of
the earnings.
However, both Sun Pharma and Ranbaxy have moved up over 8% and 10%
respectively this week and hence could see profit booking on the
announcement of the earnings.
Among the mid-cap shares, Glenmark Pharmaceutical and Strides
Arcolab are seen up.
Strides Arcolab, which announced its generic drug supply pact with
GlaxoSmithKline Plc this week, is seen up on charts with resistance at
216 rupees.
Strides Arcolab shares have surged by over 29% in the last three
trading sessions, but has still some upside left.
Strides will only launch the first drug in 2010, but the sentiment
is up for the stock.
Glenmark Pharma, the other mid-cap stock, continues to look
positive with resistance at 725 rupees.
Closing prices, in rupees, of leading pharmaceutical shares, on NSE
Friday, compared with a week ago:
Company Jul 25 Jul
18 % Change
.
Cadila Healthcare 299.45
301.55 (-) 0.7
Cipla 225.95
215.10 5.0
Dr Reddy's Laboratories 634.95
662.80 (-) 4.2
GlaxoSmithKline Pharmaceuticals 1,100.10 1,117.05 (-)
1.5
Pfizer 556.45
551.90 0.8
Ranbaxy Laboratories 481.10
436.90 10.1
Sun Pharmaceutical Industries 1,411.60
1,298.10 8.7
BSE Healthcare Index 4186.14
3990.85 4.9
Nifty 4311.85
4092.25 5.4
Sensex 14274.94
13635.40 4.7
B. Karthick,
Research Analyst.
Saturday, Jul 26
Shares of pharmaceutical companies are seen range-bound next week
tracking the broad market.
Sun Pharmaceutical shares are seen up next week as the company is
set to announce its Apr-Jun earnings on Monday.
Sun Pharma stock has support at 1,270 rupees and resistance at
1,510 rupees, which is also its 52-week high.
Apart from Sun Pharma, the rest of drug company shares are seen
sideways.
Cipla is likely to see a new support at 215 rupees while Dr
Reddy's Laboratories has support at 610 rupees.
Ranbaxy Laboratories, which will announce its Apr-Jun earnings on
Tuesday, is likely to be driven more by news inflow.
Hence the Ranbaxy stock could initially see some buying ahead of
the earnings.
However, both Sun Pharma and Ranbaxy have moved up over 8% and 10%
respectively this week and hence could see profit booking on the
announcement of the earnings.
Among the mid-cap shares, Glenmark Pharmaceutical and Strides
Arcolab are seen up.
Strides Arcolab, which announced its generic drug supply pact with
GlaxoSmithKline Plc this week, is seen up on charts with resistance at
216 rupees.
Strides Arcolab shares have surged by over 29% in the last three
trading sessions, but has still some upside left.
Strides will only launch the first drug in 2010, but the sentiment
is up for the stock.
Glenmark Pharma, the other mid-cap stock, continues to look
positive with resistance at 725 rupees.
Closing prices, in rupees, of leading pharmaceutical shares, on NSE
Friday, compared with a week ago:
Company Jul 25 Jul
18 % Change
.
Cadila Healthcare 299.45
301.55 (-) 0.7
Cipla 225.95
215.10 5.0
Dr Reddy's Laboratories 634.95
662.80 (-) 4.2
GlaxoSmithKline Pharmaceuticals 1,100.10 1,117.05 (-)
1.5
Pfizer 556.45
551.90 0.8
Ranbaxy Laboratories 481.10
436.90 10.1
Sun Pharmaceutical Industries 1,411.60
1,298.10 8.7
BSE Healthcare Index 4186.14
3990.85 4.9
Nifty 4311.85
4092.25 5.4
Sensex 14274.94
13635.40 4.7
B. Karthick,
Research Analyst.
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