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Gladiator Stocks - Caplin Point Laboratories - ICICI Direct

Posted On: 2021-05-07 05:40:13 (Time Zone: UTC)


Strategy

Buy Caplin Point Laboratories in the range of Rs. 535.00-545.00 for target price of Rs. 640.00 with stop loss of Rs. 485.00. Time Frame: Six months

Technical View

- The Pharma space in the last one month is witnessing fresh buying demand after recent healthy retracement of its CY'20 rally. The share price of Caplin Point is seen resuming its primary up trend after a higher base formation near the long term 52 week's EMA (currently at Rs. 461), thus offering a fresh entry opportunity with a favourable risk reward set up

- It has recently registered a breakout above a falling channel containing last eight months decline highlighting resumption of the primary up trend and opens upside towards our target of Rs. 640 as it is the 80% retracement of the entire corrective decline (Rs. 686-401)

- Key point to highlight is that, over past eight months, the stock has retraced less than 80% of preceding two months up move (Rs. 305-686). Shallow price retracement signifies a robust price structure and a higher base formation

Fundamental View

- Established in 1990 by first generation entrepreneur CC Paarthipan, Caplin Point (Caplin) is one of the fastest growing small cap Indian pharmaceutical companies. The growth story, so far, has been based on its unique business model with a strong, deeper presence in semi-regulated markets of Central America (CA) like Guatemala, El Salvador, Nicaragua, Ecuador and Honduras. It is also one of the leading formulation suppliers in these regions, with over 3100 product licenses globally. To further expand its wings, Caplin is now entering the larger markets of Latin America (LatAm). It has also forayed into the high risk-high value US injectable market

- After scripting a unique story by growing in uncharted territories, Caplin is looking at growth in known markets. These new markets of South America, US are a big opportunity but fraught with new challenges. That said, we continue to believe in Caplin's capability to replicate the success story in new markets. Secondly, despite likely dent in margins, return ratios due to investment phase in new markets, these prints continue to demonstrate earnings, balance sheet strength. By thriving in lesser known CA markets and cracking the most difficult US generic pharma code of injectables, that too in different therapies, Caplin has created its own identity with long drawn plans on the back of significant capex lever. The company continues to offer a compelling risk-reward scenario at current valuations.

For details, click on the link below: https://www.icicidirect.com/mailimages/IDirect_GladiatorStocks_CaplinPoint_May21.pdf

Shares of CAPLIN POINT LABORATORIES LTD. was last trading in BSE at Rs.560.6 as compared to the previous close of Rs. 523.8. The total number of shares traded during the day was 218371 in over 10690 trades.

The stock hit an intraday high of Rs. 571.95 and intraday low of 522. The net turnover during the day was Rs. 119831189.


Source: Equity Bulls

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