Buy Divis Laboratories: Target Of Rs 3800: Sharekhan
Sharekhan is bullish on Divis Laboratories recommended buy rating on the stock with a target price of Rs 3800 in its research report dated November 06, 2020.
Nov 11, 2020 / 11:30 AM IST
Sharekhan's research repor on Divis Laboratories
Divis Laboratories Limited (Divis) reported impressive performance for yet another quarter with results ahead of estimates. Divis is witnessing improved demand traction across both its segments of API and custom synthesis business. In addition to the ongoing capex of Rs 1800 crore, Divis has announced Rs 400 crore of capex for the custom synthesis business. Also it has received an approval from the Government for Kakinada Greenfield. Sturdy capacity expansion plans would support growth going ahead. We expect Divis to benefit from backward-integration initiatives, large capex project and demand traction.
We retain Buy recommendation on the stock with a revised PT of Rs. 3,800.
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