Syngene: Investors with long term view should look at the stock on dips

While Covid-19 could is a near term opportunity, contract manufacturing is the key medium-term trigger

Syngene International, which has gained 20 per cent over the past two weeks, hit its all-time high of Rs 596.85 a share on Thursday. 

Approval by the Indian Council of Medical Research for its anti-body testing kit was the key trigger. The company has tied up with biosciences company HiMedia Laboratories for manufacture of the test kit. 

Syngene’s voluntary licensing agreement with Gilead to manufacture and supply the broad spectrum anti-viral remdesivir spells another opportunity.

Shrikant Akolkar of Ashika Institutional Research says that given rising infections and the absence of a vaccine, remdesivir could gain major market share. Further, given Gilead’s forecast of