Sun Pharma Rallies On BofA-ML Upgrade

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Shares in Sun Pharma gained more than 2 percent to Rs 909, after BofA-ML upgraded the stock to "buy" from "neutral", raising its target price to Rs 1,070.

Sun Pharma Rallies On BofA-ML Upgrade
Sun Pharmaceutical Industries: Quotes, News
BSE 766.35BSE Quote13.75 (1.79%)
NSE 766.15NSE Quote13.9 (1.81%)
Shares in Sun Pharma have seen some buying support in the last few weeks after the rupee depreciated against the Dollar.

The stock had tumbled to a 52-week low of Rs 752, but, has recovered since. The drop was largely as a result of a poor set of quarterly numbers from the company.

Sun Pharma has over the last quarter seen its performance deteriorate largely on account of the consolidated figures after merging with Ranbaxy.

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