PI IND
MACQUARIE ON PI IND : 03.08.2021
* Macquarie maintains UNDERPERFORM call on Pl Industries, target at Rs 2,300/sh
* Acqn ind Swift API Biz Will Pave The Way For Growth Opportunities In Pharma Ind
* Pharma Business Growth Is Mostly Back-ended
* Asset Rationalisation May Take 1-2 Yrs Before Adding Any Material Value
* Significant Negative Risk-reward Skew In Face Of Potential Execution Challenges
* MAINTAIN UNDERPERFORM TARGET: 2,300
