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Maintain BUY on Max Healthcare - Emerges leaner and stronger - HDFC Securities
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Upgrade to BUY on Sun Pharma - Strong beat, encouraging trends in specialty - HDFC Securities
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Ajanta Pharma - Downgraded to ADD - India shines, margins a tad lower - HDFC Securities
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Dr Reddy s Labs - Weak quarter; outlook intact - HDFC Securities
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Maintain ADD on Torrent Pharma - In-line quarter; positive outlook reaffirmed - HDFC Securities
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