Buy Indoco Remedies, target price Rs 430: Yes Securities

Yes Securities has buy call on with a target price of Rs 430. The current market price of Indoco Remedies Ltd. is Rs 397.15. Time period given by analyst is Intra Day when Indoco Remedies price can reach defined target.

Indoco Remedies Ltd., incorporated in the year 1947, is a Small Cap company (having a market cap of Rs 3654.22 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 307.12 Crore, down -7.67 % from last quarter Total Income of Rs 332.65 Crore and up 12.71 % from last year same quarter Total Income of Rs 272.49 Crore. Company reported net profit after tax of Rs 25.00 Crore in latest quarter.
Investment Rationale
A series of ascending tops and bottoms along with a sustained move above important averages is likely to keep the near-term outlook positive.

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