Syngene share price: Buy Syngene International, target price Rs 660: Yes Securities


Yes Securities bought the call on International with a target price of Rs 660. Syngene International’s current market price is Rs 622.6.

The period given by the analyst is Intra Day when the price of Syngene International Ltd. can achieve the defined goal.

Syngene International Ltd., incorporated in 1993, is a mid-cap company (with a market capitalization of Rs 24,969.62 crore) operating in the pharmaceutical sector.

The main product / revenue segments of Syngene International Ltd. include contract research and manufacturing (CRAMS), other operating income, export incentives, and scrap for the year ending March 31, 2021.

Finance

For the quarter ended 30-09-2021, the company reported consolidated total income of Rs 623.10 crore, up 2.69% from last quarter total income of Rs 606.80 crore and up by 16.82% compared to the total income for the same quarter of last year of Rs 533.40 crore. The company reported net profit after tax of Rs 66.70 crore last quarter.

Justification of the investment
The appearance of a large bullish candle and the rapid reversal of the lower levels of the recent past suggests a resumption of the uptrend

Promoter / FII Holdings
The promoters held 70.42% of the company’s capital as of September 30, 2021, while the FIIs held 14.23% and the DII 4.66%.

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