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Buy Biocon; target of Rs 470: Sharekhan

Sharekhan is bullish on Biocon has recommended buy rating on the stock with a target price of Rs 470 in its research report dated January 22, 2021.

February 01, 2021 / 06:36 PM IST
 
 
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Sharekhan's research report on Biocon


Q3FY2021 was a weak quarter as COVID-19 disruptions led to procurement and supply chain delays, and also affected Biocon’s planned market expansion initiatives. Biocon sees this as a short-lived phenomenon and expects businesses to regain normalcy by FY2022. Biologics segment is expected to be a critical growth driver and the company is well placed to harness the growth opportunities. Better growth prospects, healthy balance sheet and lower debt-equity augur well for company. Possible listing of subsidiary – Biocon Biologics points towards significant value unlocking potential.


Outlook


We retain a Buy on Biocon Limited with a revised PT of Rs. 470.


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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first published: Feb 1, 2021 06:36 pm

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