Sharekhan's research report on Biocon
Q1FY22 was a weak quarter and results missed estimates. Performance was impacted due to 2nd wave of Covid in India. Growth outlook across all the business is strong with Biologics segment expected to be the key growth driver. In the near term interchangeability status for Semglee and approval for bAspart, if received could be the key triggers. After a weak performance in Q1FY22, management has shared a promising growth outlook which augurs well from a growth perspective.
Outlook
We retain Buy on the stock of Biocon with an unchanged price target (PT) of Rs. 470.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More