considering acl, page-44

from TOPNEWS.in

"DRL?s Q3FY11 results were a mixed bag. The sales growth and adjusted margins were tad below expectation but adjusted PAT was above our estimates on back of lower tax rate. Near term trigger for the stock would be launches of Fondaparinux and generic Allegra D-24 products in US.

We recommend HOLD rating on the stock with a TP of Rs1,594 valuing the base business at Rs1,535 (20x March 2012 recurring earnings) and Rs59 per share for P-IV/limited competition opportunities. Our estimates do not factor in NPV of Rs22 per share for launch of generic Allegra D-24 given the litigation uncertainty.

Strong growth in US but India and Russia lag behind

Higher SG&A tamper Gross margin improvement."

Not much to get our pulses racing, and if we hang around here for another three days I will be adding some more support around 70c.

I don't intend to cross promote, but about 6 months ago we had a thread on MHM that sounded like this. We could account for nearly every purchase for quite a while! It was a bit scary really, I felt like we where the only ones mad enough to throw good money after bad. It's a 4/5 bagger from there now, so we needn't have worried. Let's hope for the same here.