Pharma may get dollar push

1. Pharma may Get Dollar Push

2. Contd…
Deutsche Bank has cut its target for the S&P BSE Sensex by 7% to 27,000
points from 29,000 points earlier citing heightened global uncertainty
following Britain's decision to exit the European Union.
Deutsche is the first global firm to trim its Sensex target following the
breakout of the Brexit crisis.“As the long and complicated process of political
cated process of political and economic separation of the UK from the EU
unfolds, financial market volatility will remain elevated.Coordinated central
banks' action can smoothen the volatility but unfortunately may not be able
to quell uncertainty completely in the near term,“ the bank said in a note to
clients on Monday . “Until the dust settles, the risk of markets reacting
irrationally will stay elevated,“ the report added.
The bank said India may outperform many of its EM peers, but will not be
insulated from the volatility.

3. Contd…
Investors should focus on sectors such as utilities, tractors, oil marketing
companies, cement and consumer staples, which have the least exposure to global
macro environment, In pharmaceuticals, however, a stronger dollar would imply
expansion in operating margins.
Several global brokerages, including Deutsche Bank released reports recently
highlighting their bullish view on India on the back of positive domestic factors and
strong likelihood of a good monsoon. Towards the end of May , Deutsche had
reiterated its year-end Sensex target of 29000.Among others, Citi, Morgan Stanley
and HSBC upgraded India's rating and Sensex targets, while the likes of CLSA,
Nomura and Credit Suisse improved their market outlook.
Among individual stocks, Sun Pharmaceutical Industries, Lupin, Aurobindo Pharma,
ITC, Hindustan Unilever, Titan Company, NTPC, Mahindra & Mahindra, Hero
MotoCorp, Shriram Transport and BPCL look most insulated, said Deutsche. The
bank is underweight on information technology and metal sector.

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(Founder and C.E.O of Saxbee Consultants & Other-Mother
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