Syngene International — Sell Recommendation by Yes Securities Roll over 26x target PE to FY23 EPS for a revised TP Rs 400. Like the CRO + manufacturing franchise but await better entry point and retain SELL Sagar Cements — Add We assign an EV/EBITDA multiple of 7x on Sep-22E and arrive at TP of Rs 798/share (previous TP of Rs 745/share) with potential upside of 13%. We maintain our ADD rating on the stock. Further upgrades in earnings estimates and stock price would depend upon sustainability of strong pricing in the South.
Shoppers Stop — Sell Recommendation by HDFC Securities
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