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You are here: IndiaNotes >> Market Insights - 27 July 2016 >> Dishman Pharma: Correction likely to be over - Market Insights Newsletter
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Welcome to Market Insights.

In this edition, we have Bonvista Financial Planners foreseeing Dishman Pharma to start its next bull run and HDFC Securities recommending Rural Electrification Corp for a period of 2-3 quarters. We also have SMC recommending Petronet LNG and Can Fin Homes for a period of 8-10 months and Firstcall India Equity presenting a fundamental analysis on Kitex Garments. Lastly, given that Sun Pharma, Aurobindo Pharma and Glenmark Pharma have received US FDA approval to produce and market generic versions of cholesterol drug, Crestor, we have Dynamic Levels foreseeing the fortunes of these three pharma companies set to boost.

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  Dishman Pharma: Correction likely to be over

According to Mr. Unmesh Deshmukh of Bonvista Financial Planners, it seems that Dishman Pharma has completed classic correction on monthly chart. He expects the stock to cross the hurdles this time to break all time high and start its next bull run.

Click here to read the technical analysis by Bonvista Financial Planners

Fundamental picks: These stocks have an upside of 29% & 22% respectively
According to SMC, with India continuing to be significantly short of natural gas supply, Petronet LNG would benefit as the primary play on increasing usage of LNG. Similarly, SMC also find Can Fin Homes well positioned between other housing finance companies in terms of rate of interest. Thus, SMC are recommending both the stocks for a time-frame of 8-10 months.

Rural Electrification Corp: Buy at CMP and add on declines
According to HDFC Securities, the stock is currently trading at an attractive valuation of 0.66x of its FY18E adjusted book value and investors could buy the stock at the CMP and add on dips to Rs 174-187 based on ~0.55-0.6x FY18E EPS over 2-3 quarters. They are also recommending two sequential targets for the scrip.

Kitex Garments: Fundamental Analysis
Firstcall India Equity are elaborating a fundamental analysis on Kitex Garments after the release of its financial results for Q1FY17. Finding the stock at the current market price of Rs.488.25 with P/E ratio of 17.74 x F Y17E and 15.43 X FY18E respectively, they are 'Overweight' in this particular scrip for Medium to Long term investment.

Fortunes of Sun Pharma, Aurobindo & Glenmark set to boost after US FDA approval for Crestor's generic
According to Dynamic Levels, Sun Pharma, Aurobindo Pharma and Glenmark Pharma have acquired approval from the US FDA to produce and market generic versions of a blockbuster cholesterol drug, Crestor, in the American market. IMS Health believes that the drug has had yearly sales of $6.8 billion in the US itself. Thus, it will be indeed interesting to watch how shares prices of Sun Pharma, Aurobindo Pharma and Glenmark respond after this significant announcement.

Featured Technical Call for today by Pinnacle Financial Services
Buy NTPC above 58.10 placing stop-loss at 157.8
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One of our readers and an active investor had approached Bonvista Financial Planners to know the short-term targets for Fortis Healthcare, Mahindra CIE Auto, and NCC Ltd. Read the convincing solution given by Bonvista Financial Planners.
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