Thursday, 16 October 2008

Buy Jubilant Org, target of Rs 397: India Capital Markets

India Capital Markets has maintained its buy rating on Jubilant Organosys with a target of Rs 397 in its October 15, 2008 research report. "Jubilant having started as a speciality chemical player, has rapidly expanded its presence through out the value chain of pharma life-cycle driven both organically as well as in-organically. Its recent acquisitions in the CRAMS space like Hollister-stier in US and Draxis in Canada has consolidated its position in the regulated markets. With its wellchanneled network into the regulated markets and its expanded capabilities in the CRAMS."

"Sales were up 52% YoY at Rs 9,405 million, driven by the Pharma & Life Sciences business which grew 59% YoY at Rs 5,858 million. Pharma & Life Sciences business contributed 62% of total sales in Q2FY09 (60% in Q2FY08). We maintain a Buy rating with a price target of Rs 397 per share (upside of 116%)," says India Capital Markets' research report.

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Source: Moneycontrol

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