Sell Biocon, target Rs 270: Kunal Bothra

Independent analyst Kunal Bothra has a sell call on Biocon Ltd. with a target price of Rs 270. The current market price of Biocon Ltd. is Rs 290.8. Time period given by the analyst is Intra Day when Biocon Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 301. Biocon Ltd., incorporated in 1978, has a market cap of Rs 34896.00 crore.

Biocon Ltd. key Products/Revenue Segments include Bio Pharmaceuticals which contributed Rs 2639.20 Crore to Sales Value (91.48 % of Total Sales), Other Operating Revenue which contributed Rs 229.40 Crore to Sales Value (7.95 % of Total Sales), Waste which contributed Rs 15.10 Crore to Sales Value (0.52 % of Total Sales) and Sale of services which contributed Rs 1.00 Crore to Sales Value (0.03 % of Total Sales)for the year ending 31-Mar-2019.

For the quarter ended 30-09-2019, the company has reported a Consolidated sales of Rs 1572.20 Crore, up 7.25 % from last quarter Sales of Rs 1465.90 Crore and up 19.02 % from last year same quarter Sales of Rs 1321.00 Crore Company has reported net profit after tax of Rs 263.20 Crore in latest quarter. The company’s top management includes Dr.Vijay Kuchroo, Mr.Bobby Kanubhai Parikh, Mr.Daniel M Bradbury, Mr.John Shaw, Mr.Kiran Mazumdar Shaw, Mr.M Damodaran, Mr.Mary Harney, Mr.Russel Walls, Mr.Siddharth Mittal, Prof.Ravi Mazumdar. Company has B S R & Co. LLP as its auditors. As on 30-09-2019, the company has a total of 1,200,000,000 shares outstanding.