Lupin share price rose more than 8 percent intraday on November 10 - a day after the company reported its earnings and turned profitable for the quarter ended September 2022.
Lupin has recorded net profit of Rs 129.7 crore for the quarter under review as against a loss of Rs 2,098 crore a year ago.
Revenue of the company was up 1.3 percent at Rs 4,145.5 crore as against Rs 4,091.3 crore a year back.
Catch all the market action on our live blog
Here is what brokerages have to say about stock and the company post June quarter earnings
Macquarie
Research firm Macquarie has kept outperform rating on the stock with a target at Rs 790 per share.
The profitability misses on in-line revenue and the miss is due to absence of cost savings.
Earnings before interest, tax, depreciation and amortization (EBITDA) and profit missed by 14 percent and 45 percent, respectively, reported CNBC-TV18.
Nomura
Brokerage house Nomura has kept buy rating on the stock with a target at Rs 863 per share.
The Q2 sales and EBITDA 2.8 percent/11.7 percent were above the estimates. Its net earnings came in 12 percent below the forecasts.
The management expects EBITDA margin to reach 18 percent by FY23 end, reported CNBC-TV18.
At 09:58 hrs Lupin was quoting at Rs 729.45, up Rs 35.40, or 5.10 percent on the BSE.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.