India's Dr. Lal PathLabs rises; brokerage reiterates "buy"

Dr. Lal PathLabs

05/07/2023 10:35

** Shares of medical diagnostics firm Dr. Lal PathLabs
 DLPA.NS  rise as much as 2.63% to 2,300 rupees
    ** Co plans to consistently open 14-15 centres per annum to
add new customers - JM Financial 
    ** Adds, 65% of DLPA's revenue comes from its centres in
India outside Delhi-NCR, which has increased significantly over
the years
    ** Majority of DLPA's investment made to upgrade digital
infrastructure to elevate patient experience, offer customised
solutions, prevent new-age cyber-attacks - JM Financial 
    ** Brokerage believes co "remains a strong franchise with
sturdy return ratios"; maintains "buy" rating with TP of 2,525
rupees
    ** Share price remains above 50-day, 100-day and 200-day
exponential moving averages since June 27, suggesting bullish
trend
    ** Five of 20 analysts have "buy" or "strong buy" rating, 3
have "hold" while 12 rate it at "sell" or "strong sell"; median
PT is 1,842.50 rupees - Refinitiv data


 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))