There are many companies in the pharma sector during the Corona period, which gave tremendous returns to the investors. One such pharma company is Indoco Remedies. Experts say that this stock will go up to a price of Rs 500. Along with this, experts have also advised investors to buy the stock.
How much is the share price: At the end of trading on Wednesday, the share price on the BSE index was up 5.47 percent at Rs 371.45. When compared with the target price of brokerage Yes Securities, investors can make a profit of up to Rs 130 per share. Yes Securities has given a buy rating on the pharma stock with a target price of Rs 500, which shows an increase of over 35 per cent from its current stock level.
What were the quarterly results: Indoco Remedies reported net sales of Rs 408.88 crore in the March 2022 quarter. This is an increase of 34.12 per cent over the same quarter a year ago. In March 2021, sales of Rs 304.85 crore were made. The company’s net profit stood at Rs 40.37 crore in the March 2022 quarter, up from Rs 24.91 crore in March 2021. There is an increase of over 62 per cent on a year-on-year basis.