Buy Abbott India, target price Rs 19,314: ICICI Securities
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 36080.25 Crore) operating in Pharmaceuticals sector.
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Promoters held 75 per cent stake in the company as of Jun 30, 2020, while FIIs held 1.3 per cent, DIIs 5.1 and public and others 18.6 per cent.
ICICI Securities has given buy rating to Abbott India with a target price of Rs 19,314. The share price moved up by 2.33 per cent from its previous close of Rs 16,523.75. The stock’s last traded price is Rs 16,909.05.
Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 36080.25 Crore) operating in Pharmaceuticals sector.
Financials For the quarter ended 30-06-2020, the company reported a Standalone sales of Rs 1064.27 Crore, up 10.72 % from last quarter Sales of Rs 961.20 Crore and up 6.55 % from last year same quarter Sales of Rs 998.89 Crore. The Company reported net profit after tax of Rs 180.35 Crore in latest quarter.
Investment Rationale Strong growth across therapies and marquee products to continue, generate strong cashflows pushing return ratios even higher. Promoter/FII Holdings Promoters held 75 per cent stake in the company as of Jun 30, 2020, while FIIs held 1.3 per cent, DIIs 5.1 and public and others 18.6 per cent.
