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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.
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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