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Sun Pharmaceutical Industries Ltd gained 2 per cent in the morning session on Wednesday, after falling 8.8 per cent on Tuesday.
JP Morgan said it will use the weakness post Daiichi's share sale as a buying opportunity.
Japan's Daiichi Sankyo Co Ltd raised $3.2 billion from the Sun Pharma stake sale.
Goldman Sachs, the Government of Singapore and Aranda Investment Mauritius, a subsidiary of Temasek Holdings, were among the top buyers, according to exchange data.
Sun Pharma said founder Dilip Shanghvi has not bought shares in the Daiichi Sankyo deal.
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