Buy Ipca Laboratories, target price Rs 2650: Motilal Oswal

Motilal Oswal has buy call on Ipca Laboratories with a target price of Rs 2650. The current market price of Ipca Laboratories Ltd. is Rs 2121.15.

Ipca Laboratories Ltd., incorporated in the year 1949, is a Mid Cap company (having a market cap of Rs 26931.95 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1361.10 Crore, down 11.29 % from last quarter Sales of Rs 1534.40 Crore and up 6.01 % from last year same quarter Sales of Rs 1283.90 Crore Company reported net profit after tax of Rs 268.62 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 46.1 per cent stake in the company as of June 30, 2020, while FIIs held 12.4 per cent, DIIs 19 per cent and public and others 13.3 per cent.