Karvy Stock Broking has downgraded its rating on Lupin to outperformer with a target of Rs 885 in its October 15, 2008 research report. "Net revenues for the quarter are expected to move up by 31 % to Rs 8.6 billion. Lupin’s net profit is expected to move up by 39 % to Rs 1054 million for the quarter. We have reduced our earnings margin by 2.2% in FY09E to Rs 49.6 and by 5.1% to Rs 55.5 in FY10E. We downgrade our price target by 5% to Rs 885 based on 15x FY10E. On account of downgrade in earnings and price we downgrade our rating to Outperformer," says Karvy Stock Broking's research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment......