Buy Natco Pharma, target price Rs 1150: Kotak Securities

Kotak Securities has buy call on Natco Pharma Ltd. with a target price of Rs 1150. The current market price of Natco Pharma Ltd. is Rs 1093.

Time period given by analyst is Intra Day when Natco Pharma Ltd. price can reach defined target. Natco Pharma Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 19969.64 Crore) operating in Pharmaceuticals sector.

Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 359.70 Crore, down -6.81 % from last quarter Total Income of Rs 386.00 Crore and down -24.62 % from last year same quarter Total Income of Rs 477.20 Crore. Company reported net profit after tax of Rs 53.00 Crore in latest quarter.


Investment Rationale
After the sharp breakout, the stock is consolidating well above its gap zone indicating good strength.

Promoter/FII Holdings
Promoters held 48.9 per cent stake in the company as of June 30, 2020, while FIIs held 24.4 per cent, DIIs 8.9 per cent and public and others 17.8 per cent.