Buy Lupin, target price Rs 860: Shrikant Chouhan

Shrikant Chouhan of Kotak Securities has buy call on Lupin with a target price of Rs 860. The current market price of Lupin is Rs 840.8 .Shrikant Chouhan recommended to keep stop loss at Rs 820.

Lupin, incorporated in the year 1983, is a Large Cap company (having a market cap of Rs 38325.35 Crore) operating in Pharmaceuticals sector.

Lupin key Products/Revenue Segments include Pharmaceuticals, Other Services, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 4467.35 Crore, up 2.93 % from last quarter Total Income of Rs 4340.18 Crore and up 14.59 % from last year same quarter Total Income of Rs 3898.71 Crore. Company has reported net profit after tax of Rs 242.39 Crore in latest quarter.

The company’s top management includes Mrs.Manju D Gupta, Dr.Punita Kumar-Sinha, Mr.K B S Anand, Ms.Christine Mundkur, Mr.Jean-Luc Belingard, Mr.Ramesh Swaminathan, Ms.Vinita Gupta, Mr.Nilesh D Gupta, Dr.Kamal K Sharma, Mr.Mark D McDade. Company has B S R & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 46 Crore shares outstanding.

Investment Rationale
Bullish momentum has resumed which suggests bullish continuation to persist in the near term.

Promoter/FII Holdings
Promoters held 47.08 per cent stake in the company as of 31-Mar-2023, while FIIs owned 13.32 per cent, DIIs 28.78 per cent.