Stocks to buy with Anil Singhvi: Indoco Remedies is Sandeep Jain's recommendation today - Here is why
Stocks to Buy With Anil Singhvi: In today's episode of 'Jain Sahab Ke Gems' show, stock market analyst Sandeep Jain, while speaking to Zee Business Managing Editor Anil Singhvi, named another stock for investors to make good gains from. Today, he has recommended a stock that he said has the potential to give high returns to investors. The stock he picked today is Indoco Remedies Limited and here is why.
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Indoco Remedies Limited is a Mumbai-based pharmaceutical company that researches and develops, manufactures, markets, and distributes pharmaceuticals. The Company's products include Analgesics/Antipyretics, Antacids and Antiamoebics.
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In today's episode, market analyst Sandeep Jain said: "Indoco Remedies Limited is one of the good pharmaceutical company in India. The fundamentals of this company are very strong. The return on capital employed (ROCE) and the dividend yield of this company is good. The company has also reduced its debt recently.
"The last three quarterly results were good. The PAT (profit after tax) of the company is 2019 December was Rs 9 crores and in 2020 December, the PAT of the company was Rs 25 crores and in September 2020 the PAT was Rs 26 crores. Both FIIs and DIIs have stakes in the company. In fact, DIIs have increased 20 per cent stakes in the Indoco Remedies. At present, Indoco Remedies is available at very corrected levels," he further added,
Indoco Remedies Limited: Investors Strategy
On what should be the strategy that a stock market investor can maintain in regard to Indoco Remedies Limited shares, Jain told Anil Singhvi, "Indoco Remedies Limited stock is currently trading around Rs 329.55 and one can target this stock at Rs 390."
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