Angel Broking has recommended `Buy` on Alembic Pharmaceuticals with a price target of Rs 77 in its report dated Feb. 09, 2012. The broking house gave the following rationale:

For 3QFY2012, Alembic Pharmaceuticals` net sales came in at Rs 3.83 billion, up 15.0% yoy. During the quarter, exports rose by 45.4% yoy to Rs 1.65 billion. While sales were just in-line with our estimate, OPMs came in at 18%, higher than our expectation of 14%. Net profit for the quarter came in at  Rs 4.42 billion.

We maintain our Buy recommendation on the stock with a target price of Rs 77.

Click here to view full report

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.