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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
 
 
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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.


Outlook


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


For all recommendations report, click here


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first published: Oct 27, 2020 04:02 pm

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