Sharekhan bullish on Divis Laboratories has recommended buy rating on the stock with a target price of Rs 1670 in its research report dated September 17, 2018.
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Sharekhan's research report on Divis Laboratories
In the past five months, rupee has depreciated by 10-11%, benefitting exporting pharma companies in terms of better sales realisation and profitability. Hence, we have revised our INR assumptions to Rs. 69 vs. earlier Rs. 67 (for FY2020E and FY2021E), leading to upgrade of 2-3% each in our sales and earnings estimates (FY2020E and FY2021E) for Divis Laboratories Limited (Divis).
Outlook
We maintain our Buy recommendation with an upward revised PT of Rs. 1,670.
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Read MoreFirst Published on Sep 18, 2018 05:00 pm