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Centrum Broking gives 'buy' call for Vijaya Diagnostic, Granules India

Brokerage house Centrum Broking has given a 'buy' call for Vijaya Diagnostic Centre and Granules India stocks

Centrum Broking | Markets stock | Granules India

IANS  |  New Delhi 

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Brokerage house has given a 'buy' call for Vijaya Diagnostic Centre and stocks.

Vijaya Diagnostic Centre is a dominant player in southern India and is the largest integrated player by revenue and the fastest-growing in the region, the brokerage said.

"Market share expansion to continue in the core market with ongoing expansion plans impeded by pandemic."

It kept the target price at Rs 699, as against the current share price of Rs 487.

For pharmaceutical manufacturing Granules India, the target price is at Rs 385, against its current price of Rs 312.

"Granules India's (GIL) Q3 performance was almost in-line with our estimates. Revenue grew 18 per cent YoY and 13 per cent QoQ. The revenue growth was largely driven by the price increase to abate the RM (raw material) inflation," the brokerage said.

"(The company) GIL plans of local procurement... still facing challenges and continues to impact gross margins. We expect capacity utilisation to improve further though expect demand normalization to only happen beyond FY23E."

Besides, for Bajaj Electricals, the brokerage has given an 'add' call at Rs 1,280, against its current price of Rs 1,175.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Wed, February 09 2022. 18:49 IST