Views on Sun Pharmaceuticals: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking)

Sun Pharmaceuticals - Update:

"Sun Pharma's Active Pharma Ingredients plant in Ahmednagar was audited by the American drug regulator USFDA last month. It's reported that some minor observations has been noted by the USFDA in its audit, however, the observations are not severe enough in nature and may not hinder product approvals. Sun Pharma's Ahmednagar facility primarily makes raw ingredients for oncology products. Though the Management has not clarified the same, given it is minor observation, we don't think it should be cause of concern. We maintain our ACCUMULATE rating with a price target of INR 1014."

Shares of SUN PHARMACEUTICAL INDUSTRIES LTD. was last trading in BSE at Rs.930 as compared to the previous close of Rs. 918.8. The total number of shares traded during the day was 138671 in over 4455 trades.

The stock hit an intraday high of Rs. 933 and intraday low of 915.05. The net turnover during the day was Rs. 128314535.

Source : Equity Bulls

Keywords