India's Indegene up as ICICI Securities begins coverage with bullish outlook

Indegene

10/09/2025 08:36

** Shares of Indegene INEG.NS rise 1.8% to 560 rupees

** ICICI Securities initiates coverage on life sciences firm with "add" rating; sets PT at 630 rupees, implying 14.5% upside from last close

** Sees strong medium-term growth potential, distinct position in AI-enabled solutions

** Highlights global top-20 pharma clients contribute 64% of co's revenue

** Expects EPS to grow at 14.7% CAGR over FY25–FY28, reaching 25.8 rupees by FY28

   ** INEG rated "hold" on average by 5 analysts; median PT is 650 rupees – data compiled by LSEG

** Stock down 7.2% YTD

 (Reporting by Rudra Pratap Singh in Bengaluru)

 ((rudrapratap.singh@thomsonreuters.com))