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Buy Ipca Laboratories: target of Rs 2675: Sharekhan

Sharekhan is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 2675 in its research report dated November 24, 2021.

November 25, 2021 / 10:41 AM IST
 
 
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Sharekhan's research report on Ipca Laboratories


IPCA Laboratories’ (Ipca) board has approved acquisition of 26.57% stake in Lyka Labs for a consideration of Rs 97.89 crore and have also approved entering a joint management control agreement with the promoters of Lyka Labs, thus triggering an open offer. The acquisition is astrategic positive for IPCA as it provides entry into lucrative lyophilized injectables business in India and ROW markets, which bodes well as IPCA does not have a presence in this space now. Strong position across chronic and acute therapies and a robust demand environment are key growth drivers for the domestic formulations segment.However muted performance of the API business and rising cost pressures could be near term challenges, though long term growth levers are intact.



Outlook


We retain Buy recommendation on the stock with unchanged PT of Rs 2,675.


For all recommendations report, click here


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Broker Research
first published: Nov 25, 2021 10:41 am

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