These two Pharma Stocks will be in focus on Friday
Cipla and Laurus Lab will be in focus on Friday. Â
SGX Nifty is signaling a positive start for the markets on Friday. Even though the US markets closed in green on Thursday, the DOW futures trading in red is posing concerns for the markets. Several Asian markets were seen slipping from highs on Friday. While there are several stocks that may trade volatile and with a positive bias, two pharma stocks may show some above average activity on Friday.
Cipla and Laurus Lab will be in focus on Friday.
Cipla results were above estimates where the net profits have grown by 27 per cent YoY while the domestic sales growth is recorded at 68 per cent. Cipla is one pharma company which has aggressively been building a covid-care portfolio with Remdivisir, Favipiravir and Toclizumab. The stock managed to close above the crucial support on Thursday and hance may be in focus on Friday.
Laurus Lab on the other hand has seen its trend reverse in recent trading sessions. The share price of Laurus Lab is trading within 10 percent of its all-time highs. A huge green candle was formed for Laurus Lab with the stock closing at the day's high on Thursday. The closing price action is more important than the opening price if you go by what experts say. After a heavy sell-off Laurus Lab has bounced from the key support levels. The stock is also seen bouncing from its 20D EMA on Thursday.