Comments
Shares of Divi's Laboratories Ltd climbed as much as 4.6 per cent to Rs 1,305, their highest since October 2016.
According to HSBC Global Research, Divi's core business continues to normalise post successful FDA audits of its facilities, and the fundamentals remain strong on the back of its strong chemistry skills and value offerings to clients.
Quick resolution of the FDA issues at a facility in less than a year demonstrates the company’s commitment to regulatory compliance.
HSBC has upgraded the stock to 'buy', and raised the target price to Rs 1,395. The upgrade is based on assumption of better sales growth and normalised operating costs.
Nearly 1.4 million shares traded vs their 30-day moving average volume of 911,988 shares. Up to last close, the stock had risen 13.6 per cent this year vs the Nifty Pharma index's rise of 3.4 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.