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Sell Biocon, target Rs 231: Dr CK Narayan

Sell Biocon Ltd. at a price target of Rs 231.0 and a stoploss at Rs 247 from entry point.

ETMarkets.com|
Updated: Jul 22, 2019, 09.03 AM IST
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Dr CK Narayan of Chart Advise has a sell call on Biocon Ltd. with a target price of Rs 231. The current market price of Biocon Ltd. is Rs 240.35. Time period given by the analyst is Intra Day when Biocon Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 247. Biocon Ltd., incorporated in 1978, has a market cap of Rs 28842.00 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 31-03-2019, the company has reported a Consolidated sales of Rs 1528.80 Crore, down -.78 % from last quarter Sales of Rs 1540.80 Crore and up 30.72 % from last year same quarter Sales of Rs 1169.50 Crore Company has reported net profit after tax of Rs 254.60 Crore in latest quarter. The company’s top management includes Dr.Arun Chandavarkar, Dr.Jeremy Levin, 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, Prof.Ravi Mazumdar. Company has B S R & Co. LLP as its auditoRs As on 30-06-2019, the company has a total of 1,200,000,000 shares outstanding.

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