Source: Bloomberg, Centrum Research, *as on 17h November 2017 Recommendation and key risks: We have revised our FY18E and FY19E EPS downwards by 14% and 7% respectively in view of forex losses and increase in crude based raw material prices. We downgrade MPL to Hold from Buy rating, with a TP of Rs45 based on 18x March'19 EPS of Rs2.5, and a 10.7% upside from CMP. Key positive upsides would be additional ANDA approvals from US FDA and key...