Buy Sun Pharma, target price Rs 620: Motilal Oswal

Motilal Oswal has buy call on Sun Pharmaceutical Industries with a target price of Rs 620.
The current market price of Sun Pharmaceutical Industries Ltd. is Rs 595.

Sun Pharmaceutical Industries Ltd., incorporated in the year 1993, is a Large Cap company (having a market cap of Rs 141668.73 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 8458.77 Crore, up 13.28 % from last quarter Sales of Rs 7467.19 Crore and up 6.41 % from last year same quarter Sales of Rs 7949.19 Crore. Company reported net profit after tax of Rs 1948.38 Crore in latest quarter.

Investment Rationale
Consolidation breakout above 585 zones with recent highest daily close

Promoter/FII Holdings
Promoters held 54.7 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.4 per cent, DIIs 20.5 per cent and public and others 12.5 per cent.