Pharma & healthcare stocks came under selling pressure today.
An impact of interest rate hikes is rise in cost of housing.
The investment trust has already raised Rs 1,440 crore from anchor investors at the higher end of the price band.
Recommendation: Add; Target Price: Rs 2625
Following IIFL’s January 2023 recommendation downgrade on Dr. Reddy’s Labs (Dr. Reddy’s), analysts at IIFL Capital Services have further cut their rating to Reduce (from Add). The stock’s 15% rally YTD seems to be out of sync with continued muted trends on the base business (ex-Revlimid).
Recommendation: Buy; Target Price: Rs 555
Recommendation: Buy; Target Price: Rs 2558
Recommendation: Reduce; Target Price: Rs 680
Recommendation: Buy; Target Price: Rs 580
Tyre industry has not been a high volume growth story. Long-term volume growth has only been about 6% and revenue CAGR slightly higher than volumes.
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