Divis Lab Medium Term Buy Call

Divis Lab Medium Term Buy CallTechnical Analyst Sanjay Surekha has maintained 'buy' rating on Divi`s Laboratories stock to achieve a medium term target of Rs 740.

According to him, interested traders can purchase the stock with a stop loss of Rs 660.

Today, the stock opened at Rs 288.90 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 726.50 and a low of Rs 439.50 on BSE.

Current EPS & P/E ratio stood at 24.63 and 28.04 respectively.

Divis Laboratories, on April 26, declared it has bagged letter of approval from the Development Commissioner, Visakhapatnam Special Economic Zone (SEZ), for establishment and growth of a new manufacturing facility in Special Economic Zone for pharma ingredients at Visakhapatnam.

The total cost of the project is figured at Rs 2 billion.

Divi's Laboratories was established in 1990 with the sole purpose of research and development in the biosciences sector. The company primarily concentrates on the growth of advanced new methods of manufacturing pharmaceutical intermediaries and other APIs.

The company flourished it activities in a very short time period to offer useful turnkey solutions for many of the national domestic pharmaceuticals. Currently it is also venturing into offering up turnkey solutions for certain worlwide companies.