Buy Sun Pharma, target price Rs 650: Motilal Oswal

Buy Sun Pharma, target price Rs 650:  Motilal Oswal

Motilal Oswal has buy call on Sun Pharmaceutical Industries with a target price of Rs 650. The current market price of Sun Pharmaceutical Industries is Rs 620.7.

Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 148950.71 Crore) operating in Pharmaceuticals sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 8458.77 Crore, up 13.28 % from last quarter Sales of Rs 7467.19 Crore and up 6.41 % from last year same quarter Sales of Rs 7949.19 Crore Company reported net profit after tax of Rs 1948.38 Crore in latest quarter.

Investment Rationale
Breakout from its range on daily chart and surpassed its previous hurdle

Promoter/FII Holdings
Promoters held 54.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.4 per cent, DIIs 20.5 per cent and public and others 12.5 per cent.

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