Name: Latest research reports of Sun Pharmaceutical Industries Ltd. authored by BOB Capital Markets Ltd. and published by - Trendlyne research reports.
Item: Sun Pharmaceutical Industries Ltd.
Rating: 5
Author: BOB Capital Markets Ltd.

Summary	Date	Stock	Author	LTP	Target	Price at reco (Change since reco%)	Upside(%)	Type	Report	Discuss
	23 May 2025	Sun Pharmaceutical	BOB Capital Markets Ltd. Target	1656.10	1993.00	1683.60 (-1.63%)	20.34	Buy	pdf post cache	Broker Report Sun Pharma (BUY): Specialty launches to contribute 20% of global specialty sales BOB Capital Markets Ltd. Sales/EBITDA/APAT were lower than our estimates by 3.5%/9.6%/29.4%. ETR for 4QFY25 stood at 32.9% including 1x tax expense of Rs 3.7bn pdf Copy Link Share on Share on Share on Share on Alert
	07 May 2025	Alembic Pharma	BOB Capital Markets Ltd.	981.20	1032.00	896.85 (9.41%)	Target met	Buy	pdf post cache	Broker Report Alembic Pharma (BUY): FY26 to be better than FY25 BOB Capital Markets Ltd. Revenue/EBITDA/ PAT grew 6.7%/8% and 19% above our estimates. EBITDA margin reported 20bps above estimates of 15.4% in 4QFY25 pdf Copy Link Share on Share on Share on Share on Alert
	07 May 2025	Kajaria Ceramics	BOB Capital Markets Ltd. Target	1191.90	925.00	829.20 (43.74%)	Target met	Buy	pdf post cache	Broker Report Kajaria Ceramics (BUY): Weak performance on all counts BOB Capital Markets Ltd. Weak Q4 on soft demand environment and margin pressure in tile segment; ceased plywood operations due to continued losses pdf Copy Link Share on Share on Share on Share on Alert
	06 May 2025	United Breweries	BOB Capital Markets Ltd.	1952.00	2074.00	2136.80 (-8.65%)	Target met	Hold	pdf post cache	Broker Report [Initiation] United Breweries (HOLD): Positive outlook, but premium targets are stretched Hold BOB Capital Markets Ltd. UB will hold share in non-premium, grow in premium. Double digit sales growth and 340bps EBITDA margin expansion between FY25-FY27 pdf Copy Link Share on Share on Share on Share on Alert
	06 May 2025	Mahindra & Mahindra	BOB Capital Markets Ltd.	3147.40	3689.00	3068.40 (2.57%)	17.21	Buy	pdf post cache	Broker Report Mahindra & Mahindra (BUY): Healthy performance all around; maintain BUY BOB Capital Markets Ltd. Automotive and tractor segment volume grew in double digits by ~16%/19% YoY; blended realisations gains ~7%/11% YoY/QoQ pdf Copy Link Share on Share on Share on Share on Alert
	06 May 2025	Coforge	BOB Capital Markets Ltd. Target	1895.20	6202.00	7426.00 (-74.48%)	Pre-Bonus/ Split	Sell	pdf post cache	Broker Report Coforge (SELL): Robust growth likely in FY26. But pricey at 37x BOB Capital Markets Ltd. 4QFY25 CC growth a tad below estimate but EBIT margin surprise +ve. FY25 organic rev. growth is likely in mid teen. FY26 hinted to be better. pdf Copy Link Share on Share on Share on Share on Alert
	05 May 2025	Kotak Mahindra Bank	BOB Capital Markets Ltd. Target	2227.90	2520.00	2084.90 (6.86%)	13.11	Buy	pdf post cache	Broker Report Kotak Mahindra Bank (BUY): Healthy business growth; asset quality improving BOB Capital Markets Ltd. Healthy credit growth driven by secured segments; deposits growth led by healthy growth in CASA deposits pdf Copy Link Share on Share on Share on Share on Alert
	05 May 2025	State Bank	BOB Capital Markets Ltd. Target	810.85	989.00	790.00 (2.64%)	21.97	Buy	pdf post cache	Broker Report State Bank of India (BUY): Healthy business growth with steady return metrics BOB Capital Markets Ltd. PAT beat our estimates by 5% mainly aided by govt-guaranteed SRs; return ratios stay steady with RoA/RoE of 1.1/17.3% in FY25 pdf Copy Link Share on Share on Share on Share on Alert
	05 May 2025	Marico	BOB Capital Markets Ltd. Target	728.80	801.00	722.65 (0.85%)	9.91	Hold	pdf post cache	Broker Report Marico (HOLD): Benefits of a diversified portfolio BOB Capital Markets Ltd. Sales +3% above Bloomberg 4QFY25 consensus/our est. EBITDA was in line with cons. and 1% above our est pdf Copy Link Share on Share on Share on Share on Alert
	30 Apr 2025	Bajaj Finance	BOB Capital Markets Ltd. Target	942.65	11025.00	8634.50 (-89.08%)	Pre-Bonus/ Split	Buy	pdf post cache	Broker Report Bajaj Finance (BUY): Levers for steady growth BOB Capital Markets Ltd. AUM growth healthy at 26% YoY, guided for 24-25% in FY26, aided by new lines of business, gold, and secured business segments pdf Copy Link Share on Share on Share on Share on Alert
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BOB Capital Markets Ltd. Broker Research reports

Latest broker research reports from BOB Capital Markets Ltd. buy, sell, hold, neutral recommendations along with share price targets forecast and upside.

Sun Pharma (BUY): Specialty launches to contribute 20% of global specialty sales

Alembic Pharma (BUY): FY26 to be better than FY25

Kajaria Ceramics (BUY): Weak performance on all counts

[Initiation] United Breweries (HOLD): Positive outlook, but premium targets are stretched Hold

Mahindra & Mahindra (BUY): Healthy performance all around; maintain BUY

Coforge (SELL): Robust growth likely in FY26. But pricey at 37x

Kotak Mahindra Bank (BUY): Healthy business growth; asset quality improving

State Bank of India (BUY): Healthy business growth with steady return metrics

Marico (HOLD): Benefits of a diversified portfolio

Bajaj Finance (BUY): Levers for steady growth

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