Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Sun Pharma shares gain on higher prices for drugs

Feb 22 2013, 12:56 IST
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Shares of Sun Pharmaceutical Industries gained 1.5 per cent. (Reuters) Shares of Sun Pharmaceutical Industries gained 1.5 per cent. (Reuters)
SummaryShares of Sun Pharmaceutical Industries gained 1.5 per cent.

Shares of Sun Pharmaceutical Industries gained 1.5 per cent after Credit Suisse said the drug maker's subsidiary Taro Pharmaceutical Industries has pushed through price increases in three products last week, citing industry checks.

Credit Suisse estimates those three drugs account for 35 percent of Taro U.S. sales.

The price increases raise sustainable sales estimates for Taro to $680 million versus $640 million earlier for FY 2015, the investment bank adds.

Credit Suisse maintains its "outperform" rating on the stock and raises its target price to 900 rupees from 840 rupees, in part by factoring higher sales estimates for Taro.

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