Buy Abbott India, target price Rs 17,636: ICICI Securities

ICICI Securities has given a buy rating to Abbott India with a target price of Rs 17,636. The share price moved down by 0.05 per cent from its previous close of Rs 15255.05. The stock’s last traded price is Rs 15247.95.

Abbott India Ltd., incorporated in the year 1944, is a Large Cap company (having a market cap of Rs 32362.69 Crore) operating in Pharmaceuticals sector.

Investment Rationale
The brokerage said that Abbott India has strong growth across therapies and marquee products to continue, generate strong cashflows pushing return ratios even higher.

Financials
For the quarter ended 31-03-2020, the company has reported a Standalone sales of Rs 961.20 Crore, down -10.86 % from last quarter Sales of Rs 1078.25 Crore and up 6.06 % from last year same quarter Sales of Rs 906.31 Crore Company has reported net profit after tax of Rs 110.97 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 74.98 per cent stake in the company as of March 31, 2020, while FIIs held 1.64 per cent, DIIs 5.91 and public and others 17.3 per cent.