Angel Broking has maintained 'Buy' on Dishman Pharmaceuticals with target price of Rs 177 in its report.
Commenting on the investment rationalale, said, ''For 1QFY2015, Dishman Pharmaceuticals and Chemicals (Dishman) announced better-than-expected numbers on the sales front, but lower-than-expected OPM and net profit.
It is expected, Dishman's net sales and net profit to come in at Rs 16.68 billion and Rs 1.78 billion, respectively, in FY2016.
At current levels, Dishman is trading at 8.1x and 6.7x FY2015E and FY2016E earnings, respectively. We believe the current valuations are attractive, hence, we maintain our Buy recommendation on the stock with a price target of Rs 177."
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