Drug major Sun Pharmaceutical Industries on Thursday reported a consolidated net profit of Rs 1,065 crore for the second quarter ended September 2019. In the corresponding quarter last year, the company posted a net loss of Rs 218.82 crore.
Total revenue from operations during the period under review stood at Rs 8,123.35 crore as against Rs 6,937.63 crore in the year-ago quarter, it said.
Brokerages are positive on the stock. Here's what they say:
- CLSA has a 'buy' call on the stock with the target price unchanged at Rs 540. India sales offset, weak US sales, strong execution on ramp-up of specialty pipeline in the second half can drive the rerating, it said.
- Jefferies maintains its 'buy' call on the stock. It remains positive on the outlook for the specialty business.
- Credit Suisse maintains its 'neutral' call with a target of Rs 450. The street would want to watch the ramp-up of the specialty drug pipeline and maybe that seems to be weighing a bit on the sentiment, it said.