Buy Abbott India, target price Rs 29200: ICICI Securities

ICICI Securities has buy call on Abbott India with a target price of Rs 29200. The current market price of Abbott India Ltd. is Rs 23975.25.

Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 50892.08 Crore) operating in Pharmaceuticals sector.

Abbott India Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Scrap and Export Incentives for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-09-2023, the company reported a Standalone Total Income of Rs 1549.65 Crore, up .95 % from last quarter Total Income of Rs 1535.00 Crore and up 9.67 % from last year same quarter Total Income of Rs 1413.01 Crore. Company reported net profit after tax of Rs 312.94 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 74.99 per cent stake in the company as of 30-Sep-2023, while FIIs owned 0.19 per cent, DIIs 8.72 per cent.