Lupin an outperformer: Karvy

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Lupin an outperformer: Karvy

Karvy Stock Broking has downgraded its rating on Lupin to outperformer with a target of Rs 885. Net revenues for the quarter are expected to move up by 31 % to Rs 8.6 billion.

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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.

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