Buy only on a move above 713 with a stop loss below 702 for an intra-day target of 727.
Buy only on a move above 625 with a stop loss below 617 for an intra-day target of 637.
Buy only in the region 309-311 with a stop loss below 303 for a 2-day target of 324.
Buy only in the region 156-158 with a stop loss below 153 for a 2-day target of 168.
Buy only in the region 1200-1210 with a stop loss below 1185 for a short-term target of 1268 and 1294.
Price: Rs1,542 Target Price (Mar 11): Rs1,775
Relative underperformance is over
* Multiple factors have led to earnings cut: Sun has barely given
any return since Aug-08. Peers like DRL, Lupin and Cipla, on the other
hand, have given 50-100% returns. This is mainly due to loss of
certain opportunities (Venlafaxine XR), lower than expected domestic
formulation business in 1HFY10 and issues facing Caraco. As a result,
consensus earnings for FY10/11E have been cut over 21/14% since
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