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Buy Divis Laboratories: target of Rs 5620: Sharekhan

Sharekhan is bullish on Divis Laboratories has recommended buy rating on the stock with a target price of Rs 5620 in its research report dated March 09, 2022.

March 10, 2022 / 08:39 PM IST
 
 
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Sharekhan's research report on Divis Laboratories


Divis’ has charted out a strong growth path encompassing its 6 growth pillars, which would propel the growth going ahead. The CSM business is expected to stage a double-digit CAGR over FY2022E to FY2024E, driven by a expanded capacities going on stream and strong demand environment. Long standing customer relations, established capabilities, backward-integration, focus on quality, and benefits of scale would be the key positives., while depreciating INR/USD also bodes well for Divis.


Outlook


The Stock price has corrected by ~27% in over the past five months and provides a good opportunity for investors. We re-iterate Buy recommendation on the stock with unchanged PT of Rs 5,620.


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At 17:30 Divis Laboratories was quoting at Rs 4,306.45, up Rs 73.65, or 1.74 percent.


It has touched an intraday high of Rs 4,333.95 and an intraday low of Rs 4,255.80.


It was trading with volumes of 9,334 shares, compared to its thirty day average of 21,881 shares, a decrease of -57.34 percent.


In the previous trading session, the share closed up 1.64 percent or Rs 68.20 at Rs 4,232.80.


The share touched its 52-week high Rs 5,425.00 and 52-week low Rs 3,154.50 on 18 October, 2021 and 19 March, 2021, respectively.


Currently, it is trading 20.92 percent below its 52-week high and 36 percent above its 52-week low.


Market capitalisation stands at Rs 114,322.72 crore.


For all recommendations report, click here


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first published: Mar 10, 2022 08:39 pm
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