Sun Pharma Rallies On BofA-ML Upgrade

Business

oi-Sunil

By Sunil Fernandes

Published: Wednesday, August 19, 2015, 10:45 [IST]

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.

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.

GoodReturns.in