Buy Abbott India, target price Rs 19,235: ICICI Direct

ICICI Direct has buy call on Abbott India with a target price of Rs 19,235. The current market price of Abbott India is Rs 18105.4.

Time period given by analyst is one year when Abbott India Ltd. price can reach defined target.

Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 38478.24 Crore) operating in Pharmaceuticals sector.


Financials
For the quarter ended 31-03-2021, the company reported a Standalone Total Income of Rs 1111.74 Crore, up .12 % from last quarter Total Income of Rs 1110.38 Crore and up 12.37 % from last year same quarter Total Income of Rs 989.33 Crore. Company reported net profit after tax of Rs 152.47 Crore in latest quarter.

Investment Rationale
The brokerage continues to believe in Abbott’s strong growth track in power brands and capability in new launches on a fairly consistent basis.

Promoter/FII Holdings
Promoters held 75 per cent stake in the company as of March 31, 2021, while FIIs held 1.9 per cent, DIIs 4.6 per cent and public and others 18.5 per cent.