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    Buy Syngene International, target price Rs 640: Chandan Taparia

    Synopsis

    Syngene International Ltd. key Products/Revenue Segments include Contract Research & Contract Manufacturing (CRAMS), Other Operating Revenue and Scrap for the year ending 31-Mar-2022.

    Buy-Sell---ThinkStockThinkStock Photos
    Promoters held 70.29 per cent stake in the company as of 30-Jun-2022, while FIIs owned 14.33 per cent, DIIs 3.99 per cent.
    Chandan Taparia of Motilal Oswal has buy call on Syngene International with a target price of Rs 640. The current market price of Syngene International is Rs 612.35.

    Syngene International Ltd., incorporated in the year 1993, is a Mid Cap company (having a market cap of Rs 24615.96 Crore) operating in Pharmaceuticals sector.

    Syngene International Ltd. key Products/Revenue Segments include Contract Research & Contract Manufacturing (CRAMS), Other Operating Revenue and Scrap for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 783.50 Crore, up 18.71 % from last quarter Total Income of Rs 660.00 Crore and up 25.74 % from last year same quarter Total Income of Rs 623.10 Crore. Company reported net profit after tax of Rs 102.00 Crore in latest quarter.


    Investment Rationale
    Pole & flag pattern formation breakout on daily frame; follow-up buying with surge in volume at higher zones

    Promoter/FII Holdings
    Promoters held 70.29 per cent stake in the company as of 30-Jun-2022, while FIIs owned 14.33 per cent, DIIs 3.99 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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