Buy Natco Pharma, target price Rs 1200: IIFL

IIFL has buy call on with a target price of Rs 1200. The current market price of Natco Pharma Ltd. is Rs 1128.95. Time period given by analyst is Intra Day when Natco Pharma Ltd. price can reach defined target.

Natco Pharma Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 20592.32 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 359.70 Crore, down -6.81 % from last quarter Total Income of Rs 386.00 Crore and down -24.62 % from last year same quarter Total Income of Rs 477.20 Crore. Company reported net profit after tax of Rs 53.00 Crore in latest quarter.

Investment Rationale
Stock has given a bullish flag pattern breakout on the daily chart along with an uptick in the volume.

Promoter/FII Holdings
Promoters held 48.9 per cent stake in the company as of June 30, 2020, while FIIs held 24.4 per cent, DIIs 8.9 per cent and public and others 17.8 per cent.