Abbott India Limited
Abbott India is a subsidiary of Abbott Laboratories and is one of India’s fastest growing pharmaceutical companies. It enjoys strong brand equity in multiple therapeutic categories such as Women’s Health, Gastroenterology, Neurology, Thyroid, Diabetes & Urology, Pain Management, Vitamins, Anti-infective & other therapy areas.
The company is trading at 9 times the book value and on par with industry PE. From past two years, negative cash flow is hampering investors sentiment. Technically stock price has breached weekly trend line and saw the massive sell off. Further, off loading may be witnessed, only if stock price closed below 4600 and can test 4250-4000 levels. Stock price close above 4950 may invalidate this view.
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Disclaimer: I do not hold any position in ABBOT INDIA.