Buy Jubilant Pharmova, target price Rs 570: Axis Securities

Axis Securities has buy call on Jubilant Pharmova with a target price of Rs 570. The current market price of Jubilant Pharmova is Rs 457.

Jubilant Pharmova Ltd., incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 7295.08 Crore) operating in Pharmaceuticals sector.

Jubilant Pharmova Ltd. key Products/Revenue Segments include Organic Chemicals, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 1595.50 Crore, down -5.17 % from last quarter Total Income of Rs 1682.45 Crore and up 9.05 % from last year same quarter Total Income of Rs 1463.03 Crore. Company has reported net profit after tax of Rs 7.40 Crore in latest quarter.

Investment Rationale
Making a series of higher tops and higher bottomsand multiple resistance breakout at 420.

Promoter/FII Holdings
Promoters held 50.68 per cent stake in the company as of 30-Jun-2023, while FIIs owned 23.2 per cent, DIIs 1.63 per cent.