Buy Sun Pharmaceutical Industries, target price Rs 1164: ICICI Direct

economictimes.indiatimes.com:

Sun Pharmaceutical Industries with a target price of Rs 1164. The current market price of Sun Pharmaceutical Industries is Rs 1154.65.

Time period given by analyst is Intra Day when Sun Pharmaceutical Industries price can reach defined target. ICICI Direct recommended to keep stoploss at Rs 1141.7.

Sun Pharmaceutical Industries, incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 276847.27 Crore) operating in Pharmaceuticals sector. Sun Pharmaceutical Industries key Products/Revenue Segments include Pharmaceuticals and Other Operating Revenue for the year ending 31-Mar-2022.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 12145.28 Crore, up 7.44 % from last quarter Total Income of Rs 11303.95 Crore and up 12.83 % from last year same quarter Total Income of Rs 10763.90 Crore.

Company has reported net profit after tax of Rs 2013.04 Crore in latest quarter.Investment RationalePrice consolidating above 13 day EMA signaling further upward momentum. Promoter/FII Holdings Promoters held 54.48 per cent stake in the company as of 30-Jun-2023, while FIIs owned 16.48 per cent, DIIs 19.5 per cent.