Buy Ipca Laboratories; target of Rs 2450: Prabhudas Lilladher

Trading Calls - Equity F&O

Prabhudas Lilladher is bullish on Ipca Laboratories has recommended buy rating on the stock with a target price of Rs 2450 in its research report dated November 17, 2021.

Broker Research

November 17, 2021 / 01:01 PM IST

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Prabhudas Lilladher’s research report on Ipca Laboratories

IPCA Lab’s (IPCA) Q2 performance was weak and should recover from Q4FY22/Q1FY23. Domestic business (45% of total sales) continues to remain on strong footing and should continue to outperform IPM. Strong API capabilities and diversified model benefit IPCA in the current environment.

Outlook

We recommend ‘Buy’ rating on the stock with target price of Rs 2,450 based on 25x sept 2023E earnings. Any weakness in stock should be used as buying opportunity.

For all recommendations report, click here

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