Buy Wockhardt, target price Rs 260: Sharekhan by BNP Paribas

Sharekhan by BNP Paribas has buy call on Wockhardt with a target price of Rs 260. The current market price of Wockhardt Ltd. is Rs 233.8. Time period given by analyst is Intra Day when Wockhardt Ltd. price can reach defined target.

Wockhardt Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 3370.29 Crore) operating in Pharmaceuticals sector.

Wockhardt Ltd. key Products/Revenue Segments include Pharmaceuticals, Property/Land Development Rights, Sale of services, Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 669.00 Crore, down -21.84 % from last quarter Total Income of Rs 855.94 Crore and up 4.61 % from last year same quarter Total Income of Rs 639.50 Crore. Company reported net profit after tax of Rs -311.00 Crore in latest quarter.

Investment Rationale
Formed a Dragonfly Doji pattern on the weekly chart for the last week & entered recovery mode.

Promoter/FII Holdings
Promoters held 65.75 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.82 per cent, DIIs 0.1 per cent.