Keynotes Financial Opiniery is bullish on Hikal has recommended buy rating on the stock with a target price of Rs 220 in its research report dated April 16, 2019.

Established in 1988, Hikal is a company built on enduring relationships. Leading sustainable technology driven company serving the Crop Protection & Pharmaceutical Industries. Amongst the few Global Company to offer customized, cost effective and sustainable solutions from R & D to commercial manufacturing. One of very few global and only Indian company to provide Active Ingredients for both Pharmaceuticals Agrochemical – Hybrid Model. Preferred supplier to Large Global customers across the Regulated Markets. First Responsible Care custom manufacturing life science company in India. First Indian company to be member of Rx-360, a global pharmaceutical supply chain consortium for upholding world quality standards. Hikal wins Indian chemical Council’s (ICC) Acharya P.C. Ray award for Development of Indigenous technology. Hikal wins Aditya Birla Award for “ Best Responsible Care Company” in India.

 

Outlook

 

On the basis of Discount Cash Flow Valuation Method, we are recommending ‘Buy’ for the stock. Since the stock offers good opportunity, we initiate a ‘BUY’ signal on the stock with 12-month price target of Rs 220/- share an upside of 20% from current levels.

 

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