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Last Updated : Jan 14, 2020 11:28 AM IST | Source: Moneycontrol.com

Lupin share price up 1% after Nomura maintains buy

Kotak Institutional Equities has maintained add rating with a target at Rs 840 per share.

Lupin share price rose more than 1 percent intraday on January 14 after brokerages remained bullish on the stock with a price target between Rs 840-913.

Research house Nomura has maintained a buy call on the stock with a target at Rs 913 per share.

According to Nomura, the approvals for API at Tarapur may be withheld till the site is cleared, while negatively surprised by the company’s inability to address USFDA issues in the last two years.

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Tarapur is the Fifth facility to be classified as OAI and most of the new filings are based on APIs from Dabhasa & Vizag API plants.

US sales uptick will depend on the ramp-up of Levothyroxine, Solosec, it added.

Kotak Institutional Equities has maintained add rating with a target at Rs 840 per share.

Tarapur OAI is a negative surprise despite earnings impact not being material and progress on compliance is a key catalyst now, it said.

At 11:03 hrs, Lupin was quoting at Rs 756.25, up Rs 8.10, or 1.08 percent on the BSE.

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First Published on Jan 14, 2020 11:28 am
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