Reco price Rs246, Call closure price Rs460
We had recommended a BUY on Ipca labs in a detailed report dated 21 October, 2011 with a target price of R332. We continuously maintained our Buy rating in successive reports and updates and revised target to Rs460 in recent update (2 August 2012). The stock has touched the high of Rs467 in today's trading session registering 90% return from our recommended price of Rs246. We recommend investors to book profits. In longer term, however, we continue to remain positive on the company.