Buy Strides Pharma Science, target price Rs 355: Edelweiss

Edelweiss has buy call on Strides Pharma with a target price of Rs 355. The current market price of Strides Pharma Science Ltd. is Rs 324.45. Time period given by analyst is Intra Day when Strides Pharma Science Ltd. price can reach defined target.

Strides Pharma Science Ltd., incorporated in the year 1990, is a Mid Cap company (having a market cap of Rs 2914.80 Crore) operating in Pharmaceuticals sector.

Strides Pharma Science Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue, Sale of services, Export Incentives and Royalty Income for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 804.58 Crore, up 8.19 % from last quarter Total Income of Rs 743.68 Crore and down -4.81 % from last year same quarter Total Income of Rs 845.22 Crore. Company reported net profit after tax of Rs -102.38 Crore in latest quarter.

Investment Rationale
Short-term falling trendline breakout and falling open interest suggest short covering likely to trigger

Promoter/FII Holdings
Promoters held 29.6 per cent stake in the company as of 31-Dec-2021, while FIIs owned 24.8 per cent, DIIs 16.12 per cent.