Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Buy Cadila Healthcare : Recommendation from Angel Broking

34 sec read

Cadila Healthcare

CMP: Rs 248

Target Price: Rs 450

Domestic brokerage Angel Broking has initiated a ‘buy’ on pharma major Cadila Healthcare. It says that the company is trading at significant discount to its peers. During the third quarter of 2008, Cadila posted a 22% growth in net sales mainly on the back of a robust 47% growth in formulation exports.

The company’s domestic branded formulation business, on the other hand, posted a 10% growth to Rs 262 crore. “At the CMP of Rs 263 (at the time when report was released), the stock is trading at 10.5 times financial year (FY) 2009 expected and 8.6 times FY2010 expected earnings, which is at a significant discount to its peers.” The report, however, expressed concern on its overdependence on Altana.

Yet says that new client additions in the segment would aid de-risking and reduce the company’s dependence on the same. Along with this, the stock has also corrected significantly to discount the same

 

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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