Buy Aarti Drugs, target price Rs 750: Yes Securities

Buy Aarti Drugs, target price Rs 750:  Yes Securities

Yes Securities has buy call on with a target price of Rs 750. The current market price of Aarti Drugs Ltd. is Rs 697.4.

Aarti Drugs Ltd., incorporated in the year 1984, is a Small Cap company (having a market cap of Rs 6368.36 Crore) operating in Pharmaceuticals sector.

For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 532.25 Crore, down -7.98 % from last quarter Total Income of Rs 578.40 Crore and up 12.35 % from last year same quarter Total Income of Rs 473.76 Crore. Company reported net profit after tax of Rs 68.03 Crore in latest quarter.

Investment Rationale
The stock has resumed its uptrend after breaking out of a consolidation pattern. Further, volumes have picked up in the recent bull candles and also in the breakout candle, confirming the bullishness. Technical indicator RSI is also confirming that the stock is trading in the bullish territory.

Promoter/FII Holdings
Promoters held 60.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 2.2 per cent, DIIs 1.9 per cent and public and others 35.8 per cent.

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