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NIFTY Pharma, the harbinger of the sectors that boomed during the Covid-19 pandemic has been down more than 12% since the start of this year. After its correction, market experts believe that the pharma and healthcare industry may be an attractive bet again.

Here are three pharma stocks recommended by Sharekhan Securities to buy for an upside of more than 34%. 

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Divi’s Labs

Battered by market sentiments despite its strong Q4 results, the stock has lost more than 18% of its value since the announcement of the results. The Hyderabad-based manufacturer and custom synthesizer of generic APIs, intermediates and nutraceutical ingredients saw 41% year-on-year (YoY) revenue growth to ₹ 2,518 crores. EBITDA climbed 54 ₹ YoY to ₹ 1,104 crores, while net profit scaled up 78% YoY to ₹ 895 crores.

  • CMP: ₹ 3,486
  • Target Price: ₹ 4,900
  • Upside: 40.56%

Sanofi India

Sanofi India provides a variety of medicines for therapeutic areas such as cardiology, central nervous system, diabetes, thrombosis, and anti-histamines. Its standalone net income soared 63.39% to ₹ 238.40 crores accompanied by a 2.49% decline in operating revenue to ₹ 707 crores in Q1 ended March 2022 over the same period last year.

  • CMP: ₹ 6,678
  • Target Price: ₹ 9,250
  • Upside: 38.51%

Gland Pharma

With its heavy cash balances and ample opportunities in the contract development and manufacturing space on the biologics front, Gland Pharma appears to be an attractive investment despite its more than 27% year-to-date decline. 

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The net profit of the company rose 9.79% to ₹ 285.90 crores in the quarter ended March 2022.

  • CMP: ₹ 2,798
  • Target Price: ₹ 3,770
  • Upside: 34.74%

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