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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 May 31, 2021.

June 10, 2021 / 11:58 AM IST
An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

An Edelweiss research report for Q4FY21 says road tonnage continued to improve, evident in e-way bill generation (up 6% QoQ) and improved core trucking rentals. “We estimate tonnage would increase by three–five percent for truckers. Asset-light plays Mahindra Logistics and TCI Express remain our preferred picks due to their ability to scale up/down as the environment demands,” the report said. Edelweiss is bullish on Blue Dart Express due to the pandemic-induced boom in e-commerce and its leaner cost structure. It has retained a ‘buy’ call on Mahindra Logistics, TCI Express and Blue Dart Express.

 
 
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Sharekhan's research report on Ipca Laboratories


Ipca reported strong numbers for Q4FY21, though earnings missed estimates. The Formulations segment could be the key growth driver for IPCA labs, driven by a strong double digit growth of 15-18% in domestic formulations. Over the long term, strong demand and easing of capacity constraints with commissioning of the Dewas plant and additional capacities coming onstream at Ratlam in FY22 would drive the API segment’s growth.


Outlook


We maintain a Buy recommendation on the stock with an unchanged PT of Rs. 2,560.


For all recommendations report, click here


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Broker Research
first published: Jun 1, 2021 12:57 pm

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