Motilal Oswal maintains 'buy' on Ajanta Pharma, target price Rs 1,655

Motilal Oswal has a buy rating on Ajanta Pharma with a target price of Rs 1,655. The brokerage remains positive on Ajanta Pharma given the improving prospects of a revival in its earnings growth. Capex is nearly complete and benefits are likely to accrue from end of FY20, said Motilal Oswal. Shares of Ajanta Pharma ended down 1% at Rs 1,385.95 on Friday.