Views of Ms. Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking):
"Indoco Remedies posted numbers in line with expectations. In rupee terms, consolidated revenues came in at INR 274cr V/s INR 280cr expectations V/s INR 272cr in 3QFY2017, up 0.7% YoY. On profitability front the company posted an gross margins of 67.0% V/s 63.9% in 3QFY2017, leading to the OPM coming in at 14.3% V/s 12.4% in 3QFY2017; little lower than expectations of 14.9%. Consequently, the Adj. PAT came in at INR 22.7cr V/s INR 23.9cr expected V/s INR 17.6cr in 3QFY2017, growth of 28.8% YoY. During the quarter, the R&D expenditure came in at 5.2% of sales in 3QFY2018 V/s 5.1% of sales in 3QFY2017. We maintain our SELL rating on the stock, with a price target of INR 136."
Shares of INDOCO REMEDIES LTD. was last trading in BSE at Rs.294 as compared to the previous close of Rs. 298.1. The total number of shares traded during the day was 56504 in over 1999 trades.
The stock hit an intraday high of Rs. 305 and intraday low of 288. The net turnover during the day was Rs. 16783459.