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Last Updated : Aug 11, 2020 07:12 PM IST | Source: Moneycontrol.com

Buy Divis Laboratories; target of Rs 3400: Sharekhan

Sharekhan is bullish on Divis Laboratories has recommended buy rating on the stock with a target price of Rs 3400 in its research report dated August 07, 2020.

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Sharekhan's research repor on Divis Laboratories


Divis Laboratories (Divis) reported impressive performance for quarter. Consolidated sales stood at Rs 1730 crore up 48.8% y-o-y, while Adj PAT stood at Rs. 487 crore up 75% y-o-y. Hunt by global players for an alternative API source is expected to benefit companies like Divis. Benefits of backward integration, healthy product pipeline and commissioning of expanded capacities, amidst strong demand environment are the key positives. Strong earnings visibility, Sturdy balance sheet and healthy return ratios bode well.


Outlook


We retain Buy recommendation on the stock with a revised PT of Rs. 3,400.


For all recommendations report, click here


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First Published on Aug 11, 2020 06:58 pm
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