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Dividend Paying Pharma Stock Slips 18% In 1-Year, Axis Securities Sees 36% Upside, Buy
Aarti Drugs Ltd has fixed February 8, 2023 as the record date for interim dividend. The stock witnessed 18% decline in value of shares in last 1-year. Axis Securities has assigned buy call to Aarti Drugs Ltd with a target price of Rs 545. If investors decide to buy Aarti Drugs Ltd at last trading price of Rs 401.90 apiece, they can get a potential return of 36%. Check details below:
1. Aarti Drugs Ltd Declares Dividend, Fixes Record Date
According to the regulatory filing of the company, "We wish to inform you that the Board of Directors of the Company at its Meeting held on Friday, January 27, 2023, has declared the Interim Dividend of Re. 1/- (Rupee One) (@10%) per Equity share of Rs. 10/- each for the financial year 2022-23. Please note that as per Regulation 42(1)(a) of the SEBI (LODR) Regulations, 2015, Wednesday, February 8, 2023 has been fixed as 'Record Date' for the purpose of payment of Interim Dividend."
2. Aarti Drugs Ltd Stock Performance, Return
The last trading price of the stock is Rs 401.90 apiece with intraday fall of 2% on BSE. The stock's 52-week high is Rs 537.40 apiece and 52-week low is Rs 378.40 apiece, respectively. The company has a market capitalisation of Rs 3,721.59 crore.
The company saw its sharing falling by 18% in last 1-year, 13% in last 3-month, and 12% in last 1-month. The stock rallied 160% in last 3-years and 151% in last 5-years.
3. Valuation
According to Axis Securities in Its November 30, 2022 report, "API demand has started to pick up as inventories of large formulation players have corrected which was full during the covid period plus raw prices of base chemicals has started to correct. Freight prices are also showing corrections in the last three months. Therefore, Aarti Drugs could be benefitted in upcoming quarters, we upgrade to BUY on Aarti Drugs with Target Price of Rs 545."
4. About Aarti Drugs Ltd
Aarti Drugs Ltd is engaged in the manufacturing of Active Pharmaceutical Ingredients (APIs), Pharma Intermediates, Specialty Chemicals and also produces Formulations with its wholly-owned subsidiary - Pinnacle Life Science Private Limited.
Aarti Drugs Ltd was established in the year 1984 and forms part of $900 Million Aarti Group of Industries with robust R&D Division at Tarapur, Maharashtra Industrial Development Corporation (MIDC) in close vicinity to manufacturing locations, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of Axis Securities. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.
