Quotes with Resistance & Support
Market Information

Buy Lupin, target of Rs 840: Sharekhan

Posted on: March 30th, 2009 and is filed under Brokerage Recommendations.

Sharekhan has maintained its buy rating on Lupin with a price target of Rs 840 in its March 27, 2009 research report. “Lupin has acquired a majority stake in Multicare Pharmaceuticals Philippines, Inc (MC) in the Philippines. MC reported revenues of Php 272 million peso (USD 5.6 million) and was profitable for the year ending December 2008. This strategic partnership will allow Lupin to strengthen MC’s product portfolio in the Philippines through its own brands and provide cross-selling opportunities through some of its latest acquisitions in the other markets.”

“With the sustained growth momentum in the domestic market, strong visibility of the earnings from the US business owing to sizeable product opportunities and the ramp-up of the business in Europe, Japan, Australia and the other markets, we expect Lupin to deliver a strong performance over the next few years. We expect MC to be accretive to Lupin’s earnings from the first year itself, though the contribution would be very marginal. Keeping in mind the strong business fundamentals and the growth potential of the company, we maintain our Buy recommendation on Lupin with a price target of Rs 840” says Sharekhan’s research report.

Tags: , , , , , , ,

Similar Posts:


+ve 30 DMA    50 DMA    150 DMA    200 DMA
-ve 30 DMA    50 DMA    150 DMA    200 DMA

Latest Query

Samrudhiglobal.com wishing you and your friends and family Advance xmas and Happy New year...view more »
- by Sam
Status: Awaiting reply

Market Stats

Search Our Archives

Latest Investment Idea

Recent Comments