Sun Pharmaceutical Industries has rallied 5% to Rs 1,093, its new high on the Bombay Stock Exchange (BSE). The stock opened at Rs 1,048 and has seen a combined 883,328 shares have changing hands on the counter till 1336 hours on BSE and NSE.
The pharmaceutical stock has rallied 16% from its recent low of Rs 940 touched on June 26, compared to 4.6% rise in benchmark Sensex.
The company had recommended issue of bonus shares to existing shareholders in the ratio of 1:1, yet to announce record date for the same.
Meanwhile, the analyst expects the company will register a strong growth in net sales and net profit for the quarter ended June 2013.
“A healthy 24.5% year-on-year (yoy) revenue growth for the quarter ended June 2013, led by strong growth in the US generics and domestic brand named formulations businesses,” says analyst at Anand Rathi Research in a note.
Strong revenue growth and EBITDA margin improvement would aid 40.3% yoy rise in adjusted profit after tax, says analyst.
Taro’s continued strong performance, further acquisitions and profitability expansion in URL Pharma could offer upside to the stock, it added.
The pharmaceutical stock has rallied 16% from its recent low of Rs 940 touched on June 26, compared to 4.6% rise in benchmark Sensex.
The company had recommended issue of bonus shares to existing shareholders in the ratio of 1:1, yet to announce record date for the same.
Meanwhile, the analyst expects the company will register a strong growth in net sales and net profit for the quarter ended June 2013.
“A healthy 24.5% year-on-year (yoy) revenue growth for the quarter ended June 2013, led by strong growth in the US generics and domestic brand named formulations businesses,” says analyst at Anand Rathi Research in a note.
Strong revenue growth and EBITDA margin improvement would aid 40.3% yoy rise in adjusted profit after tax, says analyst.
Taro’s continued strong performance, further acquisitions and profitability expansion in URL Pharma could offer upside to the stock, it added.