Moneycontrol
Feb 05, 2018 01:36 PM IST | Source: Moneycontrol.com

Buy Thyrocare Technologies, target Rs 851; expects over 20% revenue growth: Nomura

The company's board at their meeting held on February 3, declared an interim dividend of Rs 5 per share for the financial year 2017-18.

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Shares of Thyrocare Technologies gained 3 percent intraday Monday as broking house Nomura has maintained buy rating on the stock with a target of Rs 851 per share.

Nomura said Thyrocare's Q3 revenue/EBITDA/net profit growth at 5.5/14/3 percent was ahead of estimates. Pick-up in diagnostic services at 18 percent YoY is encouraging, it added.

It thinks long-term growth expectation will be key determinant of stock performance and expects over 20 percent revenue growth going forward with higher volume demand.

The company's board at their meeting held on February 3, declared an interim dividend of Rs 5 per share for the financial year 2017-18.

The board of directors also fixed February 16, 2018 as the record date for the purpose of determining the eligibility of shareholders for the interim dividend.

At 13:26 hrs Thyrocare Technologies was quoting at Rs 683.70, up Rs 10.10, or 1.50 percent on the BSE.

Posted by Rakesh Patil
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