Buy Unichem Labs For Short Term

Buy Unichem Labs For Short TermStock market analyst D Prasad is of the view that investors can buy Unichem Laboratories Ltd stock with target of Rs 560.

According to analyst, the investors can buy the stock with stop loss of Rs 469.

Today, the shares of the company opened at Rs 499 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 507.30 and a low of Rs 191.10 on BSE.

Current EPS & P/E ratio stood at 37.13 and 13.47 respectively.

According to reports, Unichem Laboratories Ltd., on June 16, disapproved several approaches by abroad drug companies.

Based in Mumbai, Unichem is receiving growing interest from "a number of" MNCs manufacturing branded and generic medications for collaboration.

Unichem Lab Ltd has recorded a good growth in its standalone net profit for the three month period ended March 2010.

During the period under review, the company's profit grew by 20.20% to Rs 338.80 million as against Rs 281.87 million during the same quarter last year.

Net sales during the period increased 18.40% to Rs 1,715.84 million, whereas total income rose 18.08% to Rs 1,749.59 million.

The company recorded EPS of Rs 9.40 per share in the quarter, recording 20.20% increase over previous year period.