NATCO, the underperforming quality pharma stock
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Investors are wary of Natco Pharma as it has failed to perform in earlier years when it was tipped to be the one. However, the fundamentals are painting a different picture, with a sublime Q4 performance, USFDA approval of its Vizag unit, drug launch approvals in US, subsidiaries in Canada and Mexico doing well, the seguey into agrochemicals stabilizing....negligible debt, competed a 2% buyback in May 2023 wherein the promoters did not participate.. it has a modest PE valuation as on date compared to its 5 year history... stock has already broken out of its downtrend... a bit of consolidation is alway good before further direction emerges.. keeping a stoploss of 609 I am taking position in this counter
Nota
chart looks poor in the Idea...one can check it out themselves by zooming in on the daily chartsNota
Looks like a flag in formation going on..might lead to another move on the break of it...Nota
finding resistance at a technical area ..200 weekly ema.. if and when this will resolve we may get a fresh upmove..till then, holding with patience... Q1 results can be at par with last year Q4 due to the increase in revlimid sales quota/profit bookingNota
poor selection in this raging bull market... fundamentally, has a lot of potential in the quarters and years.. but now in hourly charts it has broken down from a double top..possible target near 650..Nota
with the 200 weekly EMA finallu being taken out...and Akash Bhansali's name popping in the June 23 shareholding pattern...coupled with broking firm forecasting good Q1 profits..this is slowly making its way to 765 where it may meet technical resistance
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