Divi’s Lab shares rose by about 5 percent today. Today this stock has made its new 52 week high. The brokerage says that the company has now gained momentum.
New Delhi. The stock of Indian multinational pharmaceutical company Divi’s Laboratories is seeing a good rise today i.e. on Monday 27 May. As soon as the market opened, this stock once again rose by 4 percent to reach an all-time high level of Rs 4,359. At the time of writing the news, the stock of Divi’s Laboratories was trading at Rs 4,271.95 on NSE with a gain of 3.63 percent. After the good performance of Divi’s Laboratories in the fourth quarter ended March 2024, brokerage firm Motilal Oswal Financial Services and global brokerage firm Jefferies have increased the target price of this stock.
In the March quarter, the profit of Disease Laboratories increased by 67 percent to Rs 538 crore. The profit in the same quarter a year ago was Rs 321 crore. In the fourth quarter of FY 2024, the company’s income has increased by 18 percent year-on-year to Rs 2,303 crore. The company board also announced a final dividend of Rs 30 per share while declaring the quarterly results.
Also read- This multibagger stock will run fast, brokerage told the target price, investors will be delighted
Motilal Oswal increased the target price
Brokerage firm Motilal Oswal maintained a ‘Neutral’ rating on Divi’s Laboratories stock in its report released on May 26 and raised the target price of this stock. In its report, the brokerage said, “Divi’s is making great progress in the CS and API segments through a strong chemistry skill set. It is also working on backward integration to gain market share and maintain profitability in the existing API portfolio. The brokerage said, “We expect revenue to grow at a CAGR of 27 per cent during FY 2024-26.”
Jefferies advised to hold
Global brokerage firm Jefferies has given a ‘Hold’ rating to Divi’s Laboratories stock. The brokerage has set a target price of ₹4050 for this stock. The brokerage says that the company’s Q4 results have been as per expectations and synthesis sales have seen a growth of 47% on an annual basis. EBITDA margin has reached the highest level in several quarters. The company now seems to be moving on the path of growth.
(Disclaimer: The stocks mentioned here are based on the advice of brokerage houses. If you want to invest money in any of these, then first consult a certified investment advisor. AyraNews24x7 will not be responsible for any kind of profit or loss of yours.)
Tag: Business News, Money making tips, stock market today, Stock Tips
first published : May 27, 2024, 11:24 IST
