1 hr ago
Indegene Shares Hit 52-Week High After Axis Buy Call
Indegene’s share price rose sharply after Axis Direct recommended buying the stock.
The shares reached ₹621.90, their highest level in 52 weeks.
Axis Direct set a target price of ₹705.
Indegene helps life-sciences companies use technology, artificial intelligence and data analytics.
Axis said the company understands complicated and highly regulated pharmaceutical work.
The brokerage believes Indegene can grow by serving existing customers and winning new business.
It also expects growing demand for its artificial-intelligence solutions.
Axis expects the company’s profits to grow faster than its revenue over the forecast period.
Indegene shares rose 4.8% to ₹621.90 on the BSE, reaching a 52-week high.
Axis Direct initiated coverage with a buy recommendation and set a ₹705 target price.
The brokerage said the target implied an 18% upside potential for the stock.
Indegene shares were up 17% year to date and 32% over six months.
Axis expects Indegene’s revenue, EBIT and PAT to grow at 25%, 26% and 26% CAGRs, respectively, from FY26 to FY29E.
- Who
- Indegene and Axis Direct, also identified as Axis Securities.
- What
- Indegene shares rose nearly 5% after Axis Direct began coverage with a buy recommendation and a ₹705 target price.
- Where
- On the Bombay Stock Exchange, or BSE.
- When
- Friday, 25 September; the articles do not specify the year.
- Why
- Axis cited Indegene’s life-sciences expertise, proprietary technology, artificial intelligence and analytics offerings, diversified growth pipeline and potential for earnings growth.
Key facts
- Opening price
- ₹595.05
- Previous close
- ₹593.45
- Intraday high
- ₹621.90
- Target price
- ₹705, set by Axis Direct
- Year-to-date performance
- Up 17%
- Six-month performance
- Up 32%
- FY26-29E growth outlook
- Revenue CAGR of 25%, EBIT CAGR of 26% and PAT CAGR of 26%
Quotes
Axis Securities
Brokerage firm providing research coverage on Indegene.
“With over two decades of experience serving global biopharma companies, Indegene has built capabilities across clinical, medical, regulatory, pharmacovigilance and commercial functions. This enables it to handle complex, highly regulated workflows that require both scientific knowledge and technology expertise.”
livemint.com
“The combination of domain knowledge, proprietary technology and embedded workflows differentiates Indegene from traditional IT players and strengthens its positioning as a strategic partner to global life-sciences companies.”
livemint.com
Sources
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