Buy Biocon, target price Rs 340: Anand Rathi

Anand Rathi has buy call on Biocon with a target price of Rs 340. The current market price of Biocon Ltd. is Rs 292.
Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 34769.38 Crore) operating in Pharmaceuticals sector.

Biocon Ltd. key Products/Revenue Segments include Bio Pharmaceuticals, Other Operating Revenue, Waste and Sale of services for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 4519.20 Crore, up 24.83 % from last quarter Total Income of Rs 3620.20 Crore and up 49.66 % from last year same quarter Total Income of Rs 3019.70 Crore. Company reported net profit after tax of Rs 777.40 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 60.64 per cent stake in the company as of 31-Mar-2024, while FIIs owned 5.63 per cent, DIIs 13.68 per cent.