Buy Divi's Laboratories, target price Rs 3275: IIFL

IIFL has given a buy rating to Divi's Laboratories with a target price of Rs 3275. The share price moved up by 0.90 per cent from its previous close of Rs 3194.20. The stock’s last traded price is Rs 3223.

Divi's Laboratories Ltd., incorporated in the year 1990, is a Large Cap company (having a market cap of Rs 85852.54 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 1730.47 Crore, up 24.52 % from last quarter Sales of Rs 1389.71 Crore and up 48.81 % from last year same quarter Sales of Rs 1162.88 Crore Company reported net profit after tax of Rs 492.06 Crore in latest quarter.


Investment Rationale
Stock has given a double bottom breakdown on the hourly chart.

Promoter/FII Holdings
Promoters held 52 per cent stake in the company as of June 30, 2020, while FIIs held 18.2 per cent, DIIs 15.6 per cent and public and others 14.2 per cent.