Anil Singhvi picks Strides Pharma as his 'SIP STOCK' today, know the reason WHY
Zee Business Managing Editor Anil Singhvi said that the reason for taking up this stock today is because investors have not considered whether it may benefit from Covid pandemic. In fact, notably, this stock has not moved the way other pharma companies have moved. Today's SIP stock is Strides Pharma
Zee Business Managing Editor Anil Singhvi said that the reason for taking up this stock today is because investors have not considered whether it may benefit from Covid pandemic. In fact, notably, this stock has not moved the way other pharma companies have moved. Today's SIP stock is Strides Pharma.
Singhvi said that the track record of the company is extremely strong. Promoters are extremely good and they have rewarded investors handsomely. Sputnik V vaccine will be a big trigger for Strides Pharma. This will rerate the company going forward and will be a game changer for it. Production of 20 cr doses will be huge mark for Strides Pharma.
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Singhvi said that Strides Pharma has reduced its debt levels from Rs 3200 cr to Rs 2200 cr levels, which is another positive, says Singhvi. This will strengthen the Balance sheet of the company. FII holdings are as high as 24.8% while DII holdings are to the tune of 16.1%. Big pension funds are holding stakes in the company too.
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Singhvi said that Strides Pharma should be bought for next 2 to 3 months as an Investment and the risk reward is favourable for the stock.
Market Expert Rakesh Bansal said that Strides Pharma is looking extremely strong technically. The target on the stock is Rs 1148 – Rs 1150.
Ashish Chaturvedi, Research Analyst at Zee Business said that Strides Pharma has 30+ years of experience, 8 world class manufacturing facilities, presence in 100+ countries ,5 US FDA approved facilities and R&D team of 225+ scientists. Ashish said on 19 March 2021 it did partnership with RDIF to supply 20 cr doses of Sputnik V vaccine whose supply will begin from July 2021 onwards. Ashish said Strides has in total 127 ANDA (Abbreviated New Drug Application) fillings with USFDA of which approved are 100 and 27 pending for Approval, which should be approved soon by USFDA.
Ashish highlighted that recently, on 15 March 2021 Strides Pharma received USFDA approval for potassium chloride for Oral Solution. Strides does notable expenditure in R&D, in last 5 years R&D expenditure done by company is 690 cr which is around 5.2% of Total Sales. Strides Management believes this will improve the future pipeline of Strides Pharma going forward as well. The fundamentals of the company are extremely strong and the future growth prospects look extremely promising, says Ashish
Ashish said that the Valuations of the company are extremely attractive at current levels when compared to their peers. The company is available at 2.7 market cap/sales whereas peer companies are at 4 to 7 times. The enterprise value of the Strides Pharma share is Rs 1128. The pipeline of Strides Pharma is extremely strong.
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