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NEW DELHI: From a market price of Rs 2,250 at the end of January to a record high of Rs 3,398.95 on Monday, shares of Dr Lal Pathlabs have rallied 51 per cent in just two months. Following this strong rally, a host of brokerages have turned cautious on the stock, with some predicting that a big fall in the stock may be imminent.
The latest brokerage to give such a call is Nomura, which on Tuesday downgraded Dr Lal Pathlabs to ‘reduce’ rating with a price target of Rs 2,333, marking a 30 per cent downside. The stock fell almost 12 per cent for the day.
Dr Lal Pathlabs Ltd leads losers in A group
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Healthcare stocks edge lower
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