Ajanta Pharma - Q3 FY21 Result Update - YES Securities

(Rating: BUY, TP: Rs2,130, Upside: 18.4%)

- Revised FY21 domestic growth guidance from -5% to +2% to +3% growth along with sustained 32% margin

- US business will continue to clock 18-20% growth on FY21 base driven by 7-8 approvals and ~5% R&D spending.

- Revise FY21/22/23 EPS on back of strong beat by 17%/6%/6% and TP to Rs2,130 based on unchanged 25x FY23 EPS. AJP continues to be amongst Top BUYs.

Shares of AJANTA PHARMA LTD. was last trading in BSE at Rs.1799.05 as compared to the previous close of Rs. 1746.15. The total number of shares traded during the day was 32166 in over 2268 trades.

The stock hit an intraday high of Rs. 1879.45 and intraday low of 1760. The net turnover during the day was Rs. 59008750.

Source : Equity Bulls

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