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Solara Active: After rallying 6 times in 3 years, this API maker just got first 'sell' rating

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NEW DELHI: Solara Active, which has been rallying for three years now, has suddenly got its first ‘sell’ rating. As if on cue, the stock tanked 3.5 per cent in Mumbai trading on Thursday.
The stock, which got listed at Rs 288 on June 27, 2018, hit a record high of Rs 1,859 on Wednesday, rising a solid 550 per cent, or 6.45 times, in less than three years. Six brokerages that cover the stock, all still have ‘buy’ ratings.
But Antique Stock Broking initiated coverage on it on Thursday with a ‘sell’ rating. It valued the stock at Rs 1,425, giving it an 18 times P/E multiple on FY23 estimated earnings. This target suggests 22 per cent downside from Wednesday’s closing price of Rs 1,815.55. The stock closed 3.5% lower at Rs 1,753 on Thursday.

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Solara Active Pharma Sciences - Emerging as large player in pure API business - ICICI Securities

Solara Active Pharma Sciences - Emerging as large player in pure API business - ICICI Securities
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