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India Equity Research Reports, IPO and Stock News
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India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Biocon Ltd - Q1FY12 Result Update
Biocon ltd announced its Q1FY12 results which were mainly below the street estimates. The results were impacted by the Middle East crises faced by the company during the quarter and less than expected licensing income.
Outlook and valuation
We expect Biocon to ramp up its revenue going forward in FY12 majorly contributed by expected incremental licensing income and other revenue boosters like Fidaxomicin & Insulin thus maintaining our positive stance on the stock. We reiterate our target value for Biocon at ~17x its FY13E earnings with the price objective of INR 480 implying a potential upside of 33%.
Thanks & Regards
Unicon Wealth Research
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