Buy Alembic Pharmaceuticals, target price Rs 900: Edelweiss

Edelweiss has buy call on Alembic Pharmaceuticals Ltd. with a target price of Rs 900. The current market price of Alembic Pharmaceuticals is Rs 840.

Time period given by analyst is Intra Day when Alembic Pharmaceuticals Ltd. price can reach defined target.
Alembic Pharmaceuticals Ltd., incorporated in the year 2010, is a Mid Cap company (having a market cap of Rs 16535.87 Crore) operating in Pharmaceuticals sector.


Alembic Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals, Export Incentives, Royalty Income and Other Operating Revenue for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 1294.52 Crore, down -2.51 % from last quarter Total Income of Rs 1327.91 Crore and down -11.35 % from last year same quarter Total Income of Rs 1460.32 Crore. Company reported net profit after tax of Rs 160.73 Crore in latest quarter.

Investment Rationale
Stock has given a breakout from a Rounding Bottom pattern after consolidation for five months

Promoter/FII Holdings
Promoters held 69.48 per cent stake in the company as of 30-Sep-2021, while FIIs owned 5.52 per cent, DIIs 11.42 per cent.