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Sun Pharma share price climbs to 52-week high ahead of Q1 earnings

Analysts said Sun Pharma's EBITDA margins are likely to decline because of higher R&D expenses this time

twitter-logoBusinessToday.In | July 31, 2020 | Updated 15:12 IST
Sun Pharma share price climbs to 52-week high ahead of Q1 earnings
Sun Pharma share has risen 8.36% in the last 4 days

Share price of Sun Pharma touched a fresh 52-week high in Friday's opening trade ahead of the pharmaceutical company's earnings report for Q1.

Sun Pharma share price opened at Rs 515 and gained 3.6% to new 52-week high of Rs 521.55 against the last closing value of Rs 509.95 on BSE.

Sun Pharma share has risen 8.36% in the last 4 days.

Market capitalisation of the firm stood at Rs 1.25 lakh crore as of today's session. Sun Pharma share is trading higher than its 5, 20, 50, 100 and 200 day moving averages. Sun Pharma stock price has gained 7.3% in one week, 11% in one month and 20% since the beginning of the year.

Analysts said Sun Pharma's EBITDA margins are likely to decline because of higher R&D expenses this time.

Q1 results of Sun Pharma are likely to remain muted, as per brokerage firm Motilal Oswal, which expects a 29.7% YoY fall in Q1 net profit, 0.6% YoY drop in net revenue and 14% YoY decline in EBITDA.

As per HDFC Securities, the company's revenues are expected to decline by 3% to Rs 7,988 crore while EBITDA is likely to dip by 17%. PAT is expected to decline 5% YoY at Rs 693 crore. The brokerage said key things to watch out for would be debt reduction outlook and capex plan.

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