Pharma shares like Aurobindo Pharma, Zydus Lifesciences, Sun Pharmaceutical Industries Ltd, Glenmark Pharmaceuticals may rise up to 14 per cent.
Whenever a stock hits a new 52-week low, further fall from a medium-term scale appears realistic, with price endorsing further correction of 10 per cent to 12 per cent.
According to the technical analyst from Anand Rathi, Aurobindo Pharma can rally to Rs 490; while Biocon can jump to Rs 295.
Market participants usually opt for mid-cap or small-cap stocks. But, if one fails to pick the right stock, investment in such stocks can result into huge losses
The company said the second quarter performance was subdued mainly due to the macro-environment factors and higher competitive intensity for some products in the US
According to reports, ED has arrested Sarath Reddy, director of Aurobindo Pharma, under the money laundering act in the now scrapped Delhi Excise policy case.