Company is expected to fare well on the back drop of continued growth in revenue along with innovation of new drugs and medications. Hence, we reiterate our BUY rating on the stock with a revised target price of Rs. 5,437 using a target multiple of 23x FY23E adj. EPS. Topline aided by new Medications Q2FY22 revenue grew 17.8% YoY to Rs. 5,787cr, driven by significant growth in Global Generics segment (+19.0% YoY to Rs. 4,747cr) and robust performance from Proprietary Products segment (Rs. 123cr vs Rs. 10cr in Q2FY21, on the account of...