Centrum Broking gives 'buy' call for Vijaya Diagnostic Centre, Granules India

Vijaya Diagnostic Centre is a dominant player in southern India and is the largest integrated player by revenue and the fastest-growing in the region, the brokerage said.

"Market share expansion to continue in the core market with ongoing expansion plans impeded by pandemic."

See Zee Business Live TV Streaming Below:

It kept the target price at Rs 699, as against the current share price of Rs 487.

For pharmaceutical manufacturing Granules India, the target price is at Rs 385, against its current price of Rs 312.

"Granules India's (GIL) Q3 performance was almost in-line with our estimates. Revenue grew 18 per cent YoY and 13 per cent QoQ. The revenue growth was largely driven by the price increase to abate the RM (raw material) inflation," the brokerage said.

"(The company) GIL plans of local procurement... still facing challenges and continues to impact gross margins. We expect capacity utilisation to improve further though expect demand normalization to only happen beyond FY23E."

Besides, for Bajaj Electricals, the brokerage has given an 'add' call at Rs 1,280, against its current price of Rs 1,175.