QUICK TAKE: DOWNTREND REVERSAL LIKELY IN CADILA STOCK

After being on a decline from June highs of ~665, Cadila Healthcare stock is up 3.6% in the last one week. Motilal Oswal Securities (MOSL) says, Cadila has received EUA approval for its covid-19 vaccine, first in India for 12-18 years age group. Based on its conservative estimates, assuming a 75:25 split between government-private channel and a blended price of ~320/dose for FY22, MOSL pegs the gain at ~12/share.