Motilal Oswal has reiterated a BUY rating on Ajanta Pharma (AJP) with a target price of INR 3,145. The brokerage met with AJP management and noted strategic initiatives in India, Asia, and Africa, including expanding therapy coverage and shifting towards chronic indications. AJP is also focused on adding new geographies and enhancing product offerings. A partnership with Biocon for semaglutide is expected to introduce newer therapies and gain market share.