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Citi downgraded Cadila Healthcare to 'sell' from 'buy, says Cadila's valuations "have moved well ahead of fundamentals," despite gradual recovery in the sector and improving U.S, a Reuters report suggests.
Meanwhile, a Bloomberg report suggests, Citi downgraded Cadila Healthcare to ‘sell’, however, increased target price of stock by 17% to Rs 1,115.
At 1140 hours, the stock was trading 4% lower at Rs 1,120, erasing most of its losses on the National Stock Exchange (NSE). The stock opened at Rs 1,165 and touched a high of Rs 1,175 in early morning deals on NSE. The counter has seen an over ten-fold jump in trading volumes with a combined around 727,000 shares changed hands so far on NSE and BSE.
