A fund manager with a DFI, recommends Abbott India. The pharma MNC has reported a net profit of Rs. 83.51 crore on a turnover of Rs. 1061.97 crore for the first three quarters of 2011 against a net profit of Rs. 60.94 crore on a turnover of Rs. 989.88 crore for the full year ended December 2010.
As is known, the company has recently acquired a controlling stake in Solvay Pharma and has also grabbed formulation business of Piramal Healthcare following which its equity has increased to Rs. 21.25 crore which is supported by free reserves of Rs. 374 crore. The company has also proposed demerger into two listed companies. Considering this, the scrip is worth accumulating at every decline, according to the fund manager.
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