By CNBCTV18.com Dec 2, 2022 12:40:59 PM IST (Updated)
Listen to the Article(6 Minutes)
The firm gave a price target of Rs 3,053 on the stock, implying a potential downside of 11 percent from Thursday's closing price.
Divi's Laboratories is among the worst performers on the Nifty 50 index, having declined over 30 percent on a year-to-date basis.
Morgan Stanley called Divi's as a company engaged in a strong business but currently going through a lean phase, even as the stock has delivered strong shareholder returns over the last several years. Shares have gained 220 percent over the last five years.
Divi's is also witnessing slow Earnings Per Share (EPS) growth compared to its peers and also slower than its historical trends, according to Morgan Stanley.
Post its quarterly earnings, ICICI Direct downgraded Divi's Laboratories downgraded the stock to hold from buy with a price target of Rs 3,865.
Shares of Divi's Laboratories are trading 1.7 percent lower at Rs 3,351.5.
Currency | Price | Change | %Change |
---|