EUR 120.00 For Business Accounts Only

MOSL: Morning India (2/August/21): 1. Sun Pharma (Superior performance across segments led to strong earnings beat); 2. NTPC; 3. IOCL; 4. Britannia Inds.; 5. Marico; 6. UPL; 7. Indus Towers; 8. Bandhan Bank

MOrning India (2/August/21): 1. Sun Pharma (Superior performance across segments led to strong earnings beat); 2. NTPC; 3. IOCL; 4. Britannia Inds.; 5. Marico; 6. UPL; 7. Indus Towers; 8. Bandhan Bank

 

Today’s top research idea

Sun Pharma: Superior performance across segments led to strong earnings beat

• SUNP's 1QFY22 earnings were well above our expectation, led by over 25% growth in all segments, except API. Steady traction in the Specialty portfolio, recovery in the core portfolio of Branded Generics, new launches in US Generics, and partial benefit of COVID-related products led to strong growth in 1QFY22 earnings.
• We remain positive on SUNP on the back of: a) its strategy of NCE-led brand building in developed markets, b) industry leading market share in the Branded Generics market of DF, EM, and RoW, c) its Complex Generics pipeline and improving operating leverage. We value SUNP at 25x 12-months forward earnings to arrive at our TP of INR900. We maintain our Buy

Piping hot news

Adani Group to enter petrochemicals business through Adani Petrochemicals Ltd

The Adani Group announced its intention to enter the petrochemicals business by registering a new company called Adani Petrochemicals Limited on Friday, as per regulatory disclosures made to the stock exchanges. “To carry on the business of setting up refineries, petrochemicals complexes, speciality chemicals units. Hydrogen and related chemicals plants and other such similar units,” Adani Enterprises mentioned the reason for setting up the new company as part of regulatory disclosures. The company has been set up with an authorised paid-up capital of Rs 1 lakh.