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Alkem Laboratories - To Buy or Sell - A Correct Perspective

Alkem Lab has come with an IPO with a price band between Rs 1020-1050 for Rs 1300 Cr and happens to be India's fifth largest pharma company. Issue is open wef 08 Dec 15 to 10 Dec 15.

We undertake a buy call on the stock considering a number of aspects and one glaring aspect is that it has an EPS of Rs.38.70 per share on consolidated basis for the year ended 2015 and one can get this stock in IPO at approx Rs 27 EPS valuation and you are getting the stock cheap.

Secondly its competitors are trading at much higher  PE like Alembic Pharmaceuticals at PE of 45.2X, Ipca Laboratories at PE of 38.8X and Torrent Pharma at PE of 34.8X.

Seeing above aspects and without going much into the technical jargon of the stock we recommend to subscribe the Stock IPO at upper band to get listing and long term gains.

Only drawback which we feel in this IPO is that proceeds of the share sale won't accrue to the company, but rather remitted to the shareholders, as it is an offer for sale with an issue size of 1.29 crore shares. We would have been all the more optimistic had this money used for better of the company and progression.

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