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Divis Labs Share Price: Global brokerage firm Citi initiated coverage on pharma sector giant Divis Labs. Moreover, the target price set for the investment is higher than that of other analysts. Shares of its Divis Labs saw a positive impact and rose by more than 6 per cent. Due to profit booking, it has created its own momentum. Currently it is trading at Rs 5,882.10 on BSE with a gain of 6.04 percent. It rose 6.44 per cent to Rs 5,904.00 intra-day, a record high for its shares.
What is the highest goal of investment in Divi's Labs?
Of the 28 analysts covering Divis Labs, 9 have given it a buy rating, 6 have given a hold rating and 13 have given a sell rating. For Citi, Divis Labs has initiated coverage on it with Buy rating and a target price of Rs 6400. City alone has given them a target of more than Rs 6000. The brokerage says that the company is diversifying its supply chain. Additionally, the company is developing GLP-1 (Glucagon-Life Peptide 1) API for diabetes, which could lead to a revenue opportunity of Rs 80 crore by 2023. However, the brokerage also said that if Custom Synthesis is unable to expand its business, its shares may fall to Rs 5,100.
How was the performance of shares in one year?
Shares of Divis Labs last traded at Rs 3300.00 on Nov 6, 2023, marking a one-year low for its shares. From this low to today's price of Rs 5,904.00 on 09 October 2024, it has increased by almost 79 per cent in 11 months, which is the highest recorded one-year level for its shares. Shares of Divis Labs have increased by more than 50 percent this year.