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Cadila, Cipla shares gain after HSBC upgrades to buy

7 January, 2019 4:58 AM
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Cadila, Cipla shares gain after HSBC upgrades to buy

HSBC said risk-reward turned favourable post corrections in Cadila Healthcare & Cipla.

Cadila Healthcare shares gained 0.6 percent and Cipla 0.8 percent in morning on Monday after global research house HSBC upgraded both stocks to buy.

The investment firm said risk-reward turned favourable post corrections in Cadila Healthcare & Cipla. Stocks lost 20 percent and 16 percent in last one year.

2018 was another tough year for pharma companies but headwinds are expected to persist in 2019, HSBC said.

At 10:23 hours IST, Cadila Healthcare was quoting at Rs 345.90, up 0.36 percent and Cipla was up 0.28 percent at Rs 514.85 on the BSE.

Source: moneycontrol.com

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