Cadila Replaces Lupin As Second Most Valuable Drugmaker
Cadila Healthcare Ltd. has become India's second most valuable pharmaceutical company surpassing Lupin Ltd.
Cadila rose 10 percent on Wednesday, adding nearly Rs 5,000 crore to its market capitalisation. The surge in June has been driven by product approvals by the U.S. drug regulator.
The company has gained 50 percent so far this year and analysts expect it to rise more.
On a conservative basis, we expect Lialda to add approximately Rs 7 to financial year 2017-18's earnings per share.Amey Chalke, Research Analyst, HDFC Securities
The brokerage has a target price of Rs 550 per share and will look to revise it upwards, he said. Cadila's shares ended at Rs 534.95 on the NSE on Wednesday.
June has been a seasonally strong month for drugmakers, with the pharma index ending with gains in the past. Will Cadila Healthcare continue the trend?
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