Sun Pharmaceutical Industries Shares Rallied 4 Percent Intraday

Sun Pharmaceutical Industries shares rallied 4 percent intraday after company received a rare double upgrade from global research house Morgan Stanley.

The brokerage upgraded stock to overweight and raised price target to Rs 505 from Rs 470 per share, implying 24 percent potential upside as it expects revival in earnings FY21 onwards.

Specialty ramp-up, manufacturing rationalisation, cost control and Halol will help FY21 margin, Morgan Stanley said, adding FY20 will be a transitional year followed by year of cost normalisation.

For more information ✆ +91- 6232578593 or visit www.moneymarketmanthan.com