JPMorgan initiated coverage on Cholamandalam Investment with an underweight rating and a target price of Rs 600. The stock closed at Rs 786 on 29 August. The global investment bank expects earnings to disappoint over FY23/24. There is competition from banks that can drive margin compression, said the note. It believes that markets have ascribed a significant valuation premium to the stock.
Zydus Lifesciences shares fall 2% as firm acquires US-based Assertio Holdings for $166 million
Zydus Lifesciences’ shares dipped 2% after completing the $166.4 million acquisition of US-based Assertio Holdings Inc. The deal, finalized through a subsidiary, makes Assertio a