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Indegene Shares Rise as Motilal Oswal Upgrades Stock, Sets Target
Indegene is a company whose shares are traded on the stock market.
Its shares rose nearly 5% on Friday.
Motilal Oswal Financial Services upgraded its view of the stock.
The brokerage set a possible future price of Rs 708.
Indegene reported strong revenue growth in the first quarter of FY27.
Its enterprise commercial solutions business grew especially quickly.
The company also had a more varied group of important clients.
The brokerage expects Indegene’s sales and profits to grow over the next two financial years.
Indegene shares rose 4.57% on Friday to a high of Rs 621.90 on BSE, from a previous close of Rs 593.45.
Motilal Oswal Financial Services upgraded Indegene and set a target price of Rs 708, implying about 19% upside from its Rs 595 reference price.
The brokerage expects Indegene’s revenue, EBIT and PAT to grow at roughly 19%, 29% and 27% CAGRs, respectively, over FY26-28.
Indegene’s Q1 FY27 revenue increased 39.7% year-on-year to Rs 1,063.1 crore, led by enterprise commercial solutions revenue growth of 75.5%.
The brokerage said client concentration improved, with the top client’s contribution falling to 9% and the top five clients’ share declining to 30.4%.
- Who
- Indegene and Motilal Oswal Financial Services.
- What
- Indegene shares rose after Motilal Oswal Financial Services upgraded the stock and set a Rs 708 target price.
- Where
- On the BSE stock exchange.
- When
- Friday; the operating results cited are for Q1 FY27, with estimates covering FY26-28.
- Why
- The upgrade followed strong Q1 FY27 revenue growth, expected earnings growth and improving client diversification.
Key facts
- Share move
- Indegene rose 4.57% to an intraday high of Rs 621.90 on Friday.
- Previous close
- Rs 593.45 per share on BSE.
- Brokerage target
- Motilal Oswal Financial Services set a target price of Rs 708.
- Q1 FY27 revenue
- Rs 1,063.1 crore, up 39.7% year-on-year.
- FY27 estimates
- Revenue of Rs 4,420 crore, EBITDA of Rs 796 crore and reported PAT of Rs 542 crore.
- FY28 estimates
- Revenue of Rs 4,958 crore, EBITDA of Rs 962 crore and PAT of Rs 684 crore.
- Client concentration
- The top client contributed 9% and the top five clients contributed 30.4% in Q1 FY27.
Sources
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