A strong uptick in US revenues, traction in the Africa business, and consistent performance in the domestic market have led to brokerage upgrades for Ajanta Pharma. The stock is up 27 per cent since the start of February.
Analysts at SBICAP Research have upgraded the stock to a “buy” on improved growth visibility across businesses, sustained outperformance in India business, and structural margin expansion from leverage. They expect revenue growth to be in high teens in the FY19-22 period, driven by 25 per cent growth in the US and low-to-mid teens growth in its branded ...
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First Published: Mon, February 24 2020. 23:19 IST
