Ajay Parmar, Head-Institutional Research, Emkay Global Financial Services is of the view that one can expect 20-25% upside in Cadila Healthcare.

Parmar told CNBC-TV18, "Cadila Healthcare basically is one of the top five players in the domestic market. It is now moved from a pure domestic player to an international player. It has a 37% exports and it is going at 24%. It has JV with Hospira, which can compensate for the loss which it can have from Pantoprazole. Currently it has a margin of 20%, likely to have a PAT CAGR of 25%. It has a RoC and RoE of 23% and 25% and it is valued currently at 11 times. This stock has not moved up much and being the top five players I believe there is lot of room for this particular scrip. I expect at least 20-25% increase from current market price."