Buy Lupin, target price Rs 1074: ICICI Direct

ICICI Direct has buy call on Lupin with a target price of Rs 1074. The current market price of Lupin is Rs 1089. ICICI Direct recommended to keep stop loss at Rs 1055.4. The time period recommended is intraday.

Lupin, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 49542.29 Crore) operating in Pharmaceuticals sector.

Lupin key Products/Revenue Segments include Pharmaceuticals, Other Services, Export Incentives and Other Operating Revenue for the year ending 31-Mar-2023.


Financials
For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 4836.89 Crore, up 8.27 % from last quarter Total Income of Rs 4467.35 Crore and up 29.00 % from last year same quarter Total Income of Rs 3749.40 Crore. Company has reported net profit after tax of Rs 453.33 Crore in latest quarter.

Investment Rationale
Price remains in uptrend forming higher high higher low signaling further upsides in coming sessions.

Promoter/FII Holdings
Promoters held 47.07 per cent stake in the company as of 30-Jun-2023, while FIIs owned 13.93 per cent, DIIs 28.94 per cent.