Hold Ipca Laboratories Ltd., target Rs 524.0 : Anand Rathi

Anand Rathi has Hold call on Ipca Laboratories Ltd. with a target price of Rs 524.0. The current market price of Ipca Laboratories Ltd. is 578.85. Time period given by analyst is year, when Ipca Laboratories Ltd. price can reach defined target. Anand Rathi said the company's FY16 RoE was the lowest in 10 years, as business was hurt by regulatory issues. It said the stock trades at 22x FY17 and 16.5x FY18 estimated earnings. Peer Lupin is trading at 23.62x FY17E earnings, according to Bloomberg estimates.