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HDFC Securities has a 'buy' call on Sun Pharma, says Lupin valuations attractive

Updated : June 21, 2019 11:21 AM IST

Holding a 'buy' rating on Sun Pharma, Amey Chalke, research analyst at HDFC Securities, said that the observations received at Halol Unit can be resolved.

Pharma stocks are not having a great 2019 with the Nifty pharma index down 10 percent so far this year.

On Lupin, Chalke said, “It is facing a lot of regulatory issues, they have four official actions indicated (OAI) for the plants.”

“The key product approval like ProAir would be the key trigger for the stock to move. However, the price is attractive," he added.

Speaking about largecaps, he said, “We have a target price of more than Rs 3300 on Dr Reddy's because there are no regulatory issues, they are focusing on cost optimisation. There are a lot of product approvals expected in FY20.”

“In midcaps, we like a domestic-focused company like Alkem Laboratories and Abbott India,” he added.
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