Buy Eris Lifesciences, target price Rs 660: Yes Securities

Yes Securities has buy call on Eris Lifesciences with a target price of Rs 660. The current market price of Eris Lifesciences Ltd. is Rs 605.7.

Eris Lifesciences Ltd., incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 8217.45 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 313.50 Crore, down -5.60 % from last quarter Total Income of Rs 332.08 Crore and up 14.05 % from last year same quarter Total Income of Rs 274.86 Crore. Company reported net profit after tax of Rs 90.15 Crore in latest quarter.


Investment Rationale
The stock has resumed uptrend after taking support at the breakout neckline placed at Rs 570. Moreover, on the weekly chart, it took support at an upward sloping 20-WMA, confirming bullishness. Positive DI crossing over negative DI suggests higher levels in the coming sessions.