ICICI Direct has given Buy recommendation for Astec Lifesciences recommended buy rating on the stock with a target price of Rs 2120 in its research rep with a target price of Rs. 2120 in its research report issued on Jan 26, 2022

ICICI Direct’s research report on Astec Lifesciences

Incorporated in 1994, Astec Lifescience is primarily into production of active ingredients and intermediates for the agrochemicals segment. The company operates in the space of technical as well as bulk sales. It also has a contract manufacturing business • Enterprise sales constitute ~80% of overall revenue while the rest comes from the CRAMS segment.

Outlook

We maintain BUY rating on the stock on the back of opportunity to play on the CRAMS business theme. We value Astec Lifesciences at 32x P/E FY24E EPS to arrive at a revised target price of Rs 2120/share (earlier Rs 1575/share).

More Info on Trent

At 17:30 Astec Lifesciences was quoting at Rs 1,701.05, up Rs 28.65, or 1.71 percent.

It has touched an intraday high of Rs 1,738.00 and an intraday low of Rs 1,681.35.

It was trading with volumes of 1,601 shares, compared to its thirty day average of 3,548 shares, a decrease of -54.88 percent.

In the previous trading session, the share closed down 3.46 percent or Rs 59.85 at Rs 1,672.40.

The share touched its 52-week high Rs 1,820.20 and 52-week low Rs 986.85 on 25 January, 2022 and 31 March, 2021, respectively.

Currently, it is trading 6.55 percent below its 52-week high and 72.37 percent above its 52-week low.

Market capitalisation stands at Rs 3,332.88 crore.

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