Buy Sun Pharma, advises Kunal Saraogi

Kunal Saraogi of Equityrush recommneds buying Sun Pharmaceutical Industries as the stock may test Rs 600.

Kunal Saraogi of Equityrush told CNBC-TV18, " Sun Pharma is close to a support now and if one were to actually look to buy the stock that would be a good idea. The overall structure remains positive, pharma is back in action, we have seen good moves in Lupin and Ranbaxy. Sun Pharma too should start to catch-up and Rs 600 can happen in it. So, one could look to buy at the current level."

At 12:11 hrs Sun Pharmaceutical Industries was quoting at Rs 573.35, down Rs 5.40, or 0.93 percent. It has touched an intraday high of Rs 585 and an intraday low of Rs 571.15.

The share touched its 52-week high Rs 653.10 and 52-week low Rs 437.25 on 03 March, 2014 and 10 April, 2013, respectively. Currently, it is trading 12.21 percent below its 52-week high and 31.13 percent above its 52-week low. Market capitalisation stands at Rs 118,750.18 crore.

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