Sun Pharma shares slip 3% after BofA downgrade on premium valuations

Sun Pharma shares slip 3% after BofA downgrade on premium valuations

Shares of Sun Pharmaceutical fell as much as 2.8% on Tuesday to an intraday low of Rs 1,610 on the BSE after Bank of America Securities downgraded the stock to ‘underperform’ from ‘neutral’, citing risks to premium valuations and slower-than-expected execution in speciality drugs. Bank of America Securities lowered its target price on Sun Pharma … Read more

Midcap cos: An independent board will be rewarded by market

Midcap cos: An independent board will be rewarded by market

The midcap stocks on an average have run-up by over 30% in the last 3 years, almost double the rate of large-cap stocks. At the current valuation, the market is not just pricing in next year’s earnings growth, but an earnings growth cycle for the next 3 to 5 years. Valuations of some of these … Read more