Stock market analyst Hemen Kapadia is of the view that investors can buy Sun Pharma Industries Ltd stock to achieve an intraday target of Rs 1720.

According to analyst, the investors can buy the stock at Rs 1700 with stop loss of Rs 1690.

The shares of the company, on June 16, closed at Rs 1700.15 the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 1846 and a low of Rs 1103 on BSE.

Current EPS & P/E ratio stood at 65.23 and 26.27 respectively.

On June 02, Sun Pharmaceuticals Industries Ltd has refused a $215 million offer from US-based banker and financial advisor Guggenheim Securities Llc to get hold of its 36% equity stake in Israel's Taro Pharma.

On behalf of Chairman Dilip Shanghvi, Sun Pharma's director Sailesh Desai on 29 May sent a note to Guggenheim executive chairman Alan D. Schwartz that Sun's objective was to get control of Taro and would therefore refuse Guggenheim's offer.

In the fourth quarter, Sun Pharma announced that its revenues on a year-on-year (YoY) basis declined 2.2% to Rs 1,109.2 crore as against Rs 1,134.4 crore in the same period of last year.

The company's operating profit margins was 37.7% as compared to 33.1% and PAT remained flat at Rs 394 crore.

While commenting on Sun's guidance for FY11, its MD Uday Baldota stated that it bore in mind the development in different business sections and anticipated that business would be capable of registering an overall expansion of 18-20%.