Pharma Stocks Outlook for the week (16-20.07.2012)
Stocks of pharmaceutical companies are seen trading in a
range-bound manner next week. However, investors will eye Dr Reddy's
Laboratories Ltd's Apr-Jun result to be detailed on Thursday. Sequentially, the
company's net profit is seen rising 3% while its net sales are likely to fall
by 4% over the Jan-Mar quarter.
In the next few trading sessions, shares of Cipla Ltd are
seen trading with a positive bias and investors with a long horizon may enter
the stock at around 332 rupees, with a target of 355 rupees. Near-term support
for the stock is seen at 325 rupees.
Apart from stock-specific movement, the sector will take cues from the broader market in the next five trading sessions.