Sun Pharma

B

bbob

Member
#1
#1
Sun Pharma - short term target?

The stock made a new 52 week high today ahead of the upcoming demerger. There was also a circular issued by the nse before the market opened today that ALL contracts in the April, May and June series will be squared on the 20th of April and that fresh contracts for the 3 series will be issued on the 23rd of april...

What are the prospects of the stock from now till the 20th? Any more upside left or should I square my position?:confused: Any thoughts would be much appreciated...
Many thanks
 
Last edited:
B

bbob

Member
#3
#3
No one tracking this stock?:confused:

It is consistently making a new 52 week high almost everyday for the last one week!!

Friday April 20th is the record date for the demerger. Right now at 1154
Anyone care to wager a guess what the price will be at Fridays close? 1100/1150/1200/1200+:rolleyes:
 
B

bbob

Member
#4
#4
Well it kissed 1200 after all:) .

Sold all my April futures between 1182 and 1188.

Have a look at its intraday movement and see what happened to the stock around 3pm!!!

http://myiris.com/shares/company/quoteShow.php?icode=SUNPHAIN

I was following Sun Pharma all day in cash as well as futures. Upto 3pm before the spike occured, the total traded volume on the nse in the cash market was approx. 4.5 Lakhs which is almost double its 10 day average. The final traded volume was 15 Lakhs!!! 10 Lakh shares in the last 30 min:eek:

Lets see where it relists?
 
B

bbob

Member
#5
#5
Just updating this with the results of Caraco Pharma which is the wholly owned subsidiary of Sun Pharma in the US...

Caraco announced its numbers before the bell last night and the numbers are quite impressive. They have not only managed to significantly lower R&D costs, but have also turned the company around and caraco pharma is back in the black...

Details:

http://www.nasdaq.com//aspxcontent/...DERUSEQUITY_0587.htm&cdtime=05/14/2007+9:25AM

http://www.nasdaq.com//aspxcontent/..._USPR_____CLM100.htm&cdtime=05/14/2007+9:02AM

Sun Pharma will report its results on Friday the 18th...
 
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