ICICI Direct Recommends Sun Pharmaceutical Industries With A Target Price Of Rs 1029.8

With a target price of Rs 1029.8, ICICI Direct has acquired a call on Sun Pharmaceutical Industries. Sun Pharmaceutical Industries is currently trading at Rs 1010. ICICI Direct advised keeping the stop loss at Rs 1006.3. The suggested time frame for the aforementioned call is intraday. Sun Pharmaceutical Industries, founded in 1993, is a Large Cap company (with a market capitalization of Rs 242476.79 Crore) in the Pharmaceuticals sector.

Sun Pharmaceutical Industries Ltd.'s key products/revenue segments for the fiscal year ending 31-Mar-2022 are pharmaceuticals and other operating revenue. The company reported a Consolidated Total Income of Rs 11414.85 Crore for the quarter ended 31-12-2022, up 3.42% from the previous quarter Total Income of Rs 11037.50 Crore and 10.87% from the same quarter last year Total Income of Rs 10295.57 Crore. In the most recent quarter, the company reported a net profit after tax of Rs 2188.04 crore.

Mr.Israel Makov, Mr.Dilip S Shanghvi, Mr.Sailesh T Desai, Mr.Kalyanasundaram Subramanian, Mr.Sudhir V Valia, Dr.Pawan Goenka, Mr.Rama Bijapurkar, and Mr.Gautam Doshi are among the company's top executives. S R B C & Co. LLP serves as the company's auditors. The company had 240 crore shares outstanding as of December 31, 2022. Price holding above the recent channel breakout area and the 20-day moving average suggests more upward momentum. As of December 31, 2022, promoters owned 54.48 percent of the company, while FIIs owned 16.87 percent and DIIs owned 18.94 percent.