Nov 22, 2012, 04.12 PM | Source: CNBC-TV18
Devang Mehta, Anand Rathi Financial Services is of the view that investor can hold Cipla with a target of Rs 462.
Devang Mehta (more)
Vice President & Head - Equity Sales, AnandRathi | Capital Expertise: Equity - Technical
Mehta told CNBC-TV18 the pricing policy ( more details ) was overall fair to neutral for the pharma sector and may not have impact on Cipla as such. However, he says, Cipla acquisition of South Africa's Cipla Medpro is going to augur well for the Indian pharma major. “It is going to be earnings accretive (earnings enhancing) this year itself,” he adds.
“Cipla has been our top picks since long. We have a price target of around Rs 462 per share for Cipla. If the investor holds on to Cipla it will be a good strategy and the investor can book profits around Rs 450-460," he says.