Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz

Buy Biocon; Target Of Rs 495: Sharekhan

Sharekhan is bullish on Biocon has recommended buy rating on the stock with a target price of Rs 495 in its research report dated October 23, 2020.

Oct 27, 2020 / 04:02 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research repor on Biocon

Q2FY2021 was a soft quarter for Biocon. Revenues from operations grew by 11% y-o-y to Rs 1,745 crore. Adjusted PAT rose by 10.3% y-o-y to Rs. 173.8 crore. Improving traction in existing biosimilars, likely pick up in Semglee, geographical expansion are the key growth drivers for Biologics segment. Biocon has retained its guidance for $1 billion in revenues from the biologics segment by FY2022. The generics business too is expected to grow at a healthy pace driven largely by formulations. Possible listing of Biocon Bilogics provides value unlocking opportunity.


We retain Buy recommendation on the stock with a revised PT of Rs. 495.

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.

Broker Research
first published: Oct 27, 2020 04:02 pm

stay updated

Get Daily News on your Browser