Buy Divi's Laboratories, target price Rs 3742: ICICI Direct

ICICI Direct has buy call on Divi's Laboratories with a target price of Rs 3742. The current market price of Divi's Laboratories is Rs 3692.35. Time period given by analyst is Intra Day when Divi's Laboratories price can reach defined target. ICICI Direct recommended to keep stop loss at Rs 3682.

Divi's Laboratories, incorporated in the year 1990, is a Large Cap company (having a market cap of Rs 98115.86 Crore) operating in Pharmaceuticals sector.

Divi's Laboratories key Products/Revenue Segments include Pharmaceuticals, Scrap, Export Incentives and Contract Fees for the year ending 31-Mar-2022.

Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1859.00 Crore, down -7.83 % from last quarter Total Income of Rs 2016.92 Crore and down -20.65 % from last year same quarter Total Income of Rs 2342.91 Crore. Company has reported net profit after tax of Rs 356.00 Crore in latest quarter.

Investment Rationale
Price close above 20 day EMA and higher high higher low suggesting further upward momentum.

Promoter/FII Holdings
Promoters held 51.93 per cent stake in the company as of 30-Jun-2023, while FIIs owned 14.69 per cent, DIIs 21.03 per cent.