Mar 26, 2013, 11.22 AM | Source: Reuters
Shares in Wockhardt gain 1.5 percent to 1,936.70 rupees after Bank of America-Merrill Lynch initiates coverage on the stock with a "buy" rating and a target price of Rs 2,565.
BofA-Merrill says the stock will benefit from a "likely" exit from a debt restructuring process, improved cash flows that could allow Wockhardt to turn debt-free by fiscal 2015, a recovery in domestic growth, and "consistent" earnings surprises.
For this he urges the US drug firms to come back a
Speaking to CNBC-TV18, Habil Khorakiwala, founder,
Homegrown pharma firm Wockhardt Ltd today reported
Wockhardt shares rallied more than 8 percent intra