SB7
Long

LUPIN BUY (LONG)

NSE:LUPIN   LUPIN LTD
Lupin is a BUY at CMP@1470 with SL@1420 for a target of TP@1600

Lupin             gets USFDA nod to market pain relief, colonoscopy drugs and also gets FDA approval for generic Percocet tablets .
Lupin             recently received FDA approval for generic Suprep Bowel Prep Kit and Suprep kit approval It may add 5% to Lupin’s EPS             for FY18 earnings .
In addition the pharma             major’s Goa facility has been cleared by the US FDA.

Lupin             Result: Revenue grew 26% YoY to INR             44.8b Gross margin was stable QoQ at 71.0%. EBITDA rose 27% YoY to INR             12.2b with margin of 27% . EBITDA margin improvement was primarily driven by strong growth in US sales (+53% YoY, +8% QoQ; despite R&D as % of sales at 12.9%) and forex gain of INR             270m. PAT of INR             6.3b was impacted by 1% due to a high tax rate of 39%.

Lupin is a BUY at CMP@1470 with SL@1420 for a target of TP@1600
Trade active: Trade Activated @1473.00 for a Target of 1600 with SL 1420.
Trade closed: target reached: The Pharma sector seems to be weak and recently Divis had problems on USFDA Approvals , So use this rally to exit in LUPIN as we can enter later at a lower price. Buy initiated @1470 Lupin closed @ 1490 for a profit of 20. #SB7
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