• Hyderabad SEZ facility becomes operational, capacity to ramp-up substantially by FY11E
• Higher capacity utilization and entry into niche segments will lead to margin improvement
• Tie up for ECB loan of US$125mn will considerably reduce the leverage risk on FCCBs
• Deal with Astrazeneca covers 25 oral solid and sterile products across 40 countries, supplies to commence by end of FY12E     
• The company has envisioned a mission to be US$2bn company by FY14E, implying FY10-14E revenue CAGR of ~26%

        Technical Comments

6100 remains the immediate crucial support

Nifty prices have been currently trading above a trendline breakout, Yesterday’s low was the on the same trendline around 6100. This level hence remains a crucial support level going forward. Moreover average supports on hourly charts also converge around the 6100 mark. The index has a good chance of targeting 6280-6300 levels as long as this level holds, the recent daily swing high at 6222.10 once broken should see prices heading for the target range.

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