Buy Thyrocare Technologies, target price Rs 1300: Yes Securities

Yes Securities has buy call on Thyrocare Technologies with a target price of Rs 1300. The current market price of Thyrocare Technologies is Rs 1178.05.

Time period given by analyst is Intra Day when Thyrocare Technologies Ltd. price can reach defined target.
Thyrocare Technologies Ltd., incorporated in the year 2000, is a Mid Cap company (having a market cap of Rs 6215.12 Crore) operating in Hospitals & Allied Services sector.

Thyrocare Technologies Ltd. key Products/Revenue Segments include Diagnostics, Sale of services, Other Operating Revenue and Glucose Strips/Gluco Meter for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 175.14 Crore, up 16.39 % from last quarter Total Income of Rs 150.48 Crore and up 204.64 % from last year same quarter Total Income of Rs 57.49 Crore. Company reported net profit after tax of Rs 55.87 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from a sideways consolidation phase suggesting bullishness building up here. Further, RSI has turned higher from the previous reversal zone of 25 confirming bullishness building up.

Promoter/FII Holdings
Promoters held 71.22 per cent stake in the company as of 30-Sep-2021, while FIIs owned 12.1 per cent, DIIs 6.6 per cent.