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Accumulate Divi's Laboratories; target of Rs 4300: Prabhudas Lilladher

Prabhudas Lilladher recommended accumulate rating on Divi's Laboratories with a target price of Rs 4300 in its research report dated May 24, 2022.

May 24, 2022 / 19:09 IST
     
     
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    Prabhudas Lilladher's research report on Divi's Laboratories

    Divi’s Laboratories (DIVI) registered a strong performance in FY22 aided by higher sales from Molnupiravir. We believe efforts on backward integration, debottlenecking and utility upgradation will continue to yield better margins. Divi’s remains preferred play on Indian CRAMS and API given its strong execution track record. However, in near term growth is likely to remain muted given high base. At CMP, stock is trading at 34x P/E on FY24E. Our FY23 and FY24E stands marginally reduced by 1-2%.

    Outlook

    We recommend our ‘Accumulate’ rating with revised TP of Rs 4,300/share (Rs4,750 earlier).

    For all recommendations report, click here

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    Broker Research
    first published: May 24, 2022 07:09 pm

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