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ICICI Securities recommends buying Vijaya Diagnostic Centre with a target price of Rs 700.
Vijaya Diagnostic Centre Ltd. got a buy call from ICICI Securities with a target price of Rs 700. Vijaya Diagnostic Centre is now available on the market for Rs 567.5.
Vijaya Diagnostic Centre Ltd. price can achieve stated objective in one year, according to expert.
Vijaya Diagnostic Centre Ltd., founded in 2002, is a Small Worth business in the Hospitals & Allied Services sector with a market cap of Rs 5812.06 crore.
Hospital Services and Scrap are two of Vijaya Diagnostic Centre Ltd’s primary products/revenue segments for the fiscal year ending 31-Mar-2021.
The firm reported a Consolidated Total Income of Rs 115.86 Crore for the quarter ended September 30, 2021, down -8.02 percent from the previous quarter’s Total Income of Rs 125.97 Crore but up.30 percent from the same quarter last year’s Total Income of Rs 115.51 Crore. In the most recent quarter, the company generated a net profit after tax of Rs 28.00 crore.
Reasons for Investing
Vijaya Diagnostic (Vijaya) is largely headquartered in Andhra Pradesh and Telangana and is one of the major integrated diagnostic chains in southern India. Other elements that set Vijaya apart from other diagnostic chains include: 1) Its B2C sector accounts for 92 percent of its revenue (providing stickiness), and 2) it delivers a complete range of diagnostic services in pathology and radiology. Vijaya has the greatest margin (44 percent in FY21) in the sector because to its B2C focus and increased radiology contribution. The company’s focus on deeper expansion in its key markets, as well as favourable macroeconomic circumstances and the assumption of a quicker shift of market power to organised players, would help it sustain its growth pace. Further expansion in the East, particularly in Kolkata, may be a catalyst for medium- to long-term growth. With a BUY rating and a target price of Rs700/share, the brokerage begins coverage on the company.
As of September 30, 2021, promoters owned 54.78 percent of the firm, while FIIs owned 24.14 percent and DIIs 15.11 percent.
economictimes.com is the source for this information.
Vijaya Diagnostics shares make a quiet start on the public market, rising 2% from the IPO price on the first day.
Vijaya Diagnostic Centre debuted on the stock markets today flat, at a slight premium to its initial public offering (IPO) price, amid favourable market sentiment. Vijaya Diagnostic’s stock opened at Rs 542.3 per share, up Rs 11.3 or 2.13 percent from the IPO’s upper end of Rs 531 per share. The diagnostic chain’s IPO in South India was oversubscribed 4.58 times earlier this month, raising Rs 1,895 crore from investors. The IPO was solely an offer for sale (OFS) by the company’s existing shareholders. Dr Lal Pathlabs, Metropolis Healthcare, Krsnaa Diagnostics, and Throcare Technologies will all be listed on the bourses with Vijaya Diagnostic Centre.
The initial public offering (IPO) of Vijaya Diagnostic Centre was oversubscribed 13.07 times by qualified institutional buyers (QIB), with half of the issue reserved. Retail investors bid 1.09 times the amount intended for them, while non-institutional investors (NII) bid 1.32 times the amount allowed for them. The IPO was subscribed to 0.98 times by the firm’s employees. Vijaya Diagnostic Centre’s shares were trading in the grey market with losses prior to their Dalal Street IPO.
“At the upper price band, Vijaya Diagnostic Centre Limited is demanding a PE multiple of 64.3X of FY21 earnings, which is lower than the industry average of 90.8X,” domestic brokerage and research firm IIFL Securities wrote in a note, advising investors to subscribe to the IPO with a long-term outlook. Because the IPO was purely an OFS, Vijaya Diagnostic Centre has not received any cash from the listing of its equities on stock markets. The business’s promoters have reduced their interest in the company by 5%. For the past three fiscal years, Vijaya Diagnostic Centre has been profitable.
financialexpress.com is the source for this information.
Experts say’subscribe,’ but the grey market premium isn’t interesting. Vijaya Diagnostics IPO — analysts say’subscribe,’ but the grey market premium isn’t thrilling.
Meanwhile, analysts at Angel Broking feel that all of the short-term benefits have already been factored in, implying a smaller IPO for Vijaya Organics.
“We feel that all of the short-term positives have been priced in because the firm has set the IPO price at 35.5 times FY2021 earnings…
The grey market premium for the IPO is now at $50, which is 8.2 percent of the IPO price, indicating that the grey market does not anticipate a large IPO…
The Vijaya Organics IPO has a neutral outlook, according to Yash Gupta, equities research analyst at Angel Broking.
Analysts at Ventura Securities expect the company’s revenue to grow at a compound annual growth rate (CAGR) of 16.7% to 600 crore by FY24, owing to the company’s expanding footprints in core markets such as Telangana and Andhra Pradesh, as well as the opening of additional diagnostic centres and expanding into new geographies.
Analysts at Kotak Securities point to the company’s lengthy history of consistently profitable expansion, as well as outstanding cash generation and return measures.
businessinsider.in is the source for this information.
Experts predict Vijaya Diagnostic’s stock will have a low initial public offering (IPO).
Vijaya Diagnostic shares are expected to be listed with caution, according to Ravi Singhal, Vice Chairman of GCL Securities “Vijaya Diagnostics’ stock may have a sluggish start on Indian exchanges today. It might go public at a price range of 505 to 540 dollars, depending on market sentiment, as global stock markets fell on Monday due to inflation fears.”
Vijaya Diagnostic shares are expected to begin flat to reduced, according to Abhay Doshi, Founder of UnlistedArena.com “Vijaya Diagnostic Center has a strong track record, as seen by its top and bottom line growth. Even after such a strong showing, investors were confused by IPOs since pure OFS appeared to be overpriced. Last month, a high-priced IPO flopped, causing investors to be wary. Sentiment may not be favourable at launch due to the high valuation, therefore a flat or even a discount listing cannot be ruled out.”
Santosh Meena, Head of Research at Swastika Investmart Ltd, was asked about his thoughts on Vijaya Diagnostic’s stock offering “On the strength of increased healthcare awareness and expenditure on preventative and wellness, the Indian diagnostics industry is likely to develop even more. The IPO appears to be aggressively priced, with very little space for investors at the upper price range of $531. We do not foresee a large listing gain due to the lukewarm reaction in subscription, and the IPO is primarily OFS based, where we have witnessed unfavourable emotions for OFS based IPOs in the recent past. Other suggested solutions with solid track records, such as Dr. Lal Path Labs and Metropolis, may be worth considering.”
Vijaya Diagnostics’ stock offering is projected to result in modest gains, according to Nitin Shahi, Executive Director of Findoc Financial Services Group “Gains from the Vijaya Diagnostic IPO are expected to be modest. It might open at a premium of 2-5 percent to the issue price. Sector is predicted to increase at a reasonable rate in the long run. As a result, the stock can be held for a medium to lengthy period of time.”
livemint.com is the source of this information.
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