Buy Biocon, target price Rs 390: ICICI Direct

ICICI Direct has buy call on Biocon with a target price of Rs 390. The current market price of Biocon Ltd. is Rs 332.9.
Time period given by analyst is one year when Biocon Ltd. price can reach defined target.

Biocon Ltd., incorporated in the year 1978, is a Large Cap company (having a market cap of Rs 39559.77 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-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 2222.50 Crore, up 14.25 % from last quarter Total Income of Rs 1945.30 Crore and up 18.29 % from last year same quarter Total Income of Rs 1878.90 Crore. Company reported net profit after tax of Rs 266.80 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 60.64 per cent stake in the company as of 31-Dec-2021, while FIIs owned 16.52 per cent, DIIs 6.85 per cent.