Cadila Healthcare - no 483 For Moraiya plant: Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking):

"Cadila Healthcare did not got any 483's issued in favour of its Moriaya plant. This marks an important relief for the company, Moriaya plant is a significant contributor to the overall sales of the company and has around 74 pending approvals, of the > 200 ANDA's pending approval ( at the company level). Though after the approval the plant will take time to get approvals for its ANDA's from this plant and hence will have a long term positive impact on the company. Though we view the news as positive , we maintain our NEUTRAL rating on the stock, given the valuations."

Shares of CADILA HEALTHCARE LTD. was last trading in BSE at Rs.429.45 as compared to the previous close of Rs. 358.05. The total number of shares traded during the day was 1007336 in over 26926 trades.

The stock hit an intraday high of Rs. 439.8 and intraday low of 356.3. The net turnover during the day was Rs. 419401246.

Source : Equity Bulls

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