SUNPHARMA EQ has been looking quite promising for the previous months and its upwards trajectory is a fascinating one at its best.
At the end of August, MD Dilip Shanghvi announced that the company’s businesses are well positioned and expect high single-digit consolidated topline growth for FY24. He further went on to state that they will be investing in building an R&D framework for both the expansion of global and the speciality business.
As per the reports, Sun Pharmaceutical Industries Ltd. spent approximately INR 2400 crore on Research and Development which has accounted for about 5.5 percent of its sales for FY 23.
In other news, Sun Pharma has joined hands with Pharmazz Inc., a US-based biopharmaceutical company through a licensing agreement to commercialize Tyvalzi in India. It’s a medicine to treat cerebral ischemic stroke.
Technical Outlook:
SUNPHARMA EQ – BUY ABOVE – 1160 | STOP LOSS – 1060 | TARGET – 1260/1300 |
SUN PHARMA EQ – BULLISH
It has broken out from a flag pattern in its price movement and the momentum indicates a strong bullish trend.
The price is now trading above the 50-day and 200-day moving average and anticipation of an upside target of 15% return on investment.
Duration / Holding Period – 6 Month to 1 year.
| Current Price | Market Cap | Stock P/E | Dividend Yield |
| ₹ 1150 | ₹ 2,75,900 Cr | 31.3 | 1.00 % |
| EPS | ROCE | ROE | PROMOTER HOLDING |
| ₹ 35.2 | 17.4 % | 16.6 % | 54.5% |