Cadila slumps after Citi downgrade

Tags: Companies
Shares of Cadila Healthcare fall around 10 percent after Citigroup downgrades them to "sell" from "buy".

Citi says Cadila's valuations "have moved well ahead of fundamentals," despite gradual recovery in the sector and improving US business.

Prefers Aurobindo Pharma and Glenmark Pharmaceuticals in midcaps among drugmakers.

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