Long Term Buy Call For Sun Pharma

Long Term Buy Call For Sun PharmaAshwani Gujral is bullish on Sun Pharmaceutical Industries Ltd and has recommended 'buy' rating on the stock with a target of Rs 2140 in its latest research report.

According to Sushil Finance, the interested investors can buy the stock with a stop loss of Rs 2020.

The stock of the banking institution, on Oct 08, closed at Rs 2064.20 on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 2099 and a low of Rs 1350 on BSE.

Current EPS & P/E ratio stood at 84.56 and 24.63 respectively.

Sun Pharmaceuticals today said it has won stockholders' nod to divide its equity share of Rs 5 each into 5 scrips worth Rs 1 each.

The company said, "The board is seeking members' approval through postal ballot process instead of convening an extra ordinary general meeting to facilitate participation of members residing at different locations."

Moreover, the company has declared that USFDA has given a tentative nod for its Abbreviated New Drug Application (ANDA) to sell a generic edition of Sanofi Aventiss Rilutek tabs in the potency of 50 mg.

Riluzole Hydrochloride tabs are prescribed for the cure of amyotrophic lateral sclerosis.

Rilutek has yearly sale of around US$50 million in the US market.