Prabhudas Lilladher is bullish on Thyrocare Technologies has recommended buy rating on the stock with a target price of Rs 795 in its research report dated August 06, 2018.
Prabhudas Lilladher's research report on Thyrocare Technologies
Thyrocare has approved the proposal to buyback maximum 1.61% (8,63,013 shares) of total paid-up equity shares of the company to a maximum of Rs730. Thyrocare has allocated Rs630mn for the buy back and will utilize at least 50% (Rs315m) implying a buyback of minimum 0.85% (4,31,506 shares) of total paid-up equity shares.
We believe the current buyback offer should help address undervaluation of the stock. We maintain 'BUY' at TP of Rs795 (35x FY20E)
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