Buy Ipca Laboratories: target of Rs 2560: Sharekhan
Sharekhan is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 2560 in its research report dated March 18, 2021.
March 19, 2021 / 11:20 AM IST
Sharekhan's research report on Ipca Laboratories
Ipca’s domestic formulations that account for around 45% of the overall topline of the company is on a strong footing to report double digit growth over the next two years. Ipca’s API business is also witnessing strong demand traction, which is expected to sustain going ahead. Strong revenue growth supported by easing capacity constraints augurs well for Ipca from a growth perspective. Ipca’s stock price has corrected by ~17%, thus providing a good entry point for investors.
We maintain Buy recommendation on the stock of IPCA Laboratories Limited (Ipca) with an unchanged PT of Rs. 2,560.
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