Thursday 13 November 2008

Buy Dishman Pharma, target Rs 185: Reliance Money

Reliance Money has recommended a buy rating on Dishman Pharmaceuticals and Chemicals, with a 12-month price target of Rs 185, in its report dated October 31, 2008. "Dishman Pharmaceuticals & Chemicals reported 35% growth in its consolidated revenues to Rs 2520 million during Q2FY09, which was in line with our expectations. To capture the market wide correction in the valuations, we are revising down our target price to Rs 185 (i.e 8x FY10EPS) from our earlier DCF based target price of Rs 320. Thus, we maintain our rating on Dishman Buy with revised target price of Rs 185," says Reliance Money's report.

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Source: Moneycontrol

Posted by Harsh at 07:33

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