Nomura ratings upgrades Ranbaxy Laboratories to 'buy', shares gain
Nomura cited recent underperformance and a positive take away from management interaction as reasons for the upgrade.
"The organisational restructuring has brought greater clarity and there is strong commitment towards improvement in margins, in our assessment," Nomura said in a note.
The research house noted positive catalysts include FDA approval for Diovan and other key products as well as improvement in base business margins.
Ranbaxy shares up 2.1 percent at 411.60 rupees.
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