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Buy Sanofi India: target of Rs 9250: Sharekhan

Sharekhan is bullish on Sanofi India has recommended buy rating on the stock with a target price of Rs 9250 in its research report dated February 23, 2022.

February 24, 2022 / 12:17 PM IST
 
 
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Sharekhan's research report on Sanofi India


Sanofi reported weak performance for quarter and results missed estimates. Although numbers are not comparable on a y-o-y basis due to the hiving off of the neutraceuticals business. Revenues and adjusted PAT declined by 4.5% and 26.5% yoy respectively. Divesture of Nutraceuticals business as well as slow moving brands, to remove a drag on the company’s growth and would facilitate enhanced focus on key growth areas – anti diabetes, cardiac.. High-growth visibility from chronics, strong, debt-free balance sheet, sturdy dividends and healthy cash position are the key positives.



Outlook


We retain Buy recommendation on Sanofi India Limited (Sanofi) with a revised PT of RS 9250.

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At 12:14 hrs Sanofi India was quoting at Rs 7,281.00, up Rs 3.55, or 0.05 percent.

It has touched an intraday high of Rs 7,369.00 and an intraday low of Rs 7,176.00.

It was trading with volumes of 1,490 shares, compared to its thirty day average of 861 shares, an increase of 73.08 percent.

In the previous trading session, the share closed up 1.98 percent or Rs 141.00 at Rs 7,277.45.

The share touched its 52-week high Rs 9,300.00 and 52-week low Rs 6,949.35 on 10 August, 2021 and 27 January, 2022, respectively.

Currently, it is trading 21.71 percent below its 52-week high and 4.77 percent above its 52-week low.

Market capitalisation stands at Rs 16,768.60 crore.

For all recommendations report, click here

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first published: Feb 24, 2022 12:17 pm
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