CMP : 523
Target Price : 605
Cipla has posted a lower-than-expected set of numbers for 3QFY2016. Sales
came in at Rs3,027cr (V/s `3,367cr expected) V/s Rs2,625cr in 3QFY2015, a yoy
growth of 15.3%, mainly led by exports. On the operating front, the OPM came
in at 12.0% V/s 19.9% expected and V/s 15.7% in 3QFY2015. According to the
Management, the revenues took a 2.5%..