Stock Market: Along with Motilal Oswal, Jefferies is also bullish on this stock.

New Delhi. Shares of Indian multinational pharmaceutical company Divi’s Laboratories (Divi’s Laboratories Share Price) are showing good growth today, Monday, May 27. The stock rose 4 percent to touch a high of Rs 4,359 at the market open. At the time of writing, shares of Davies Laboratories were trading at Rs 4,271.95, up 3.63 percent on the NSE. Brokerage firm Motilal Oswal Financial Services and global brokerage firm Jefferies have raised their target price on the stock following Devi’s good performance in the fourth quarter ended March 2024.

Disease Laboratories’ profit rose 67% to Rs 538 crore in the March quarter. Profit was Rs 321 crore in the same quarter a year ago. The company’s revenue has grown 18% year-on-year to Rs 2,303 crore in the fourth quarter of FY24. The company board while announcing the quarterly results also announced a final profit of Rs 30 per share.

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Motilal Oswal increased the target price.
Brokerage firm Motilal Oswal maintained a ‘Neutral’ rating on Divi Laboratories shares in a report issued on May 26 and increased the target price on the stock. In its report, the brokerage said, “Divise is making significant inroads in the CS and API segments with a strong chemistry skill set. It is also looking at backward integration to gain market share and maintain profitability in the existing API portfolio.” “We expect revenue to grow at a CAGR of 27 percent during FY2024-26,” the brokerage said.

Jeffries suggests holding on.
Global brokerage firm Jefferies has assigned a ‘Hold’ rating to Divi’s laboratory shares. The brokerage has fixed the price of this share at Rs 4050. The brokerage said the company’s Q4 results were in line with expectations and saw a 47% year-on-year increase in compound sales. EBITDA margin has reached its highest level in several quarters. The company now seems to be on the path of growth.

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