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You are here : IndiaNotes >> Research & Analysis >> Companies >> Ajanta Pharma Ltd. >> Research

Buy Ajanta Pharma, Godrej Ind, Balkrishna Ind; Sell HUL

Reliance Securities | 14 Mar, 2018  | Follow Author | Add to my Favourites 
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Ajanta Pharma(AJP) surged 1.6% in yesterday’s trade on account of increased visibility on domestic formulations business front

We believe that AJP’s long-term fundamentals continue to remain healthy driven by strong traction in India business and healthy growth in Asia and the US. Currently, stock is trading at PE multiple of 22.0x FY19E and 18.5x FY20E EPS. We maintain our BUY rating on the stock with a Target Price of Rs1,860, valuing the stock at 25x FY20E EPS of Rs 74.4.

Positional Pick


For today’s trade, long position can be initiated at 537-542 for target of Rs 585 with a strict stop loss of Rs 524.

Intraday Picks


For today’s trade, long position can be initiated at Rs 1035-1045 for target of Rs 1079 with a strict stop loss of Rs 1025. Traders are advised to avoid early morning whipsaw.


For today’s trade, short position can be initiated at Rs 1330-1335 for target of Rs 1297 with a strict stop loss of Rs 1348. Traders are advised to avoid early morning whipsaw.

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1,359.10 +16.75
1,363.15 +17.80
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About Reliance Securities

Reliance Securities, the broking arm of Reliance Capital, is one of the India’s leading retail broking houses, providing customers with access to equities, derivatives, currency, IPOs, mutual funds, bonds, and corporate FDs amongst others. The large array of financial offerings helps customers fulfilling their investment objectives on one platform. Focus on timely & error-free execution represents its core strength. Their best in class research offerings, high degree of compliance with stock exchange regulations, ethical business standards, & strong risk management capabilities; Reliance Securities positions itself amongst strong & innovative brands in the financial services space.

For more information please write in to [email protected]

Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor accept any liability whatsoever arising from the use of any of the above contents.


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