🚀 Vijaya Diagnostic Share Price on the Rise 📈
On May 10, Vijaya Diagnostic’s shares saw a consecutive second day of growth, reaching new heights. The stock purchase has increased in the March quarter and FY24 due to higher profits and revenues. Brokerage firms are pleased with the company’s financial results and have raised their ratings and target prices, giving a boost to buying.
On Friday morning, the shares opened at ₹734.75 on the BSE with an increase and reached a high of ₹799, up 9% from the previous closing price. The company’s market cap has reached ₹8,100 crores. By the end of March 2024, promoters held 54.06% stake in the company, while public shareholders held 45.94% stake.
By Wednesday (May 15, 2024), the shares were trading at ₹809, up by 6.37%. The company’s consolidated revenue for the March 2024 quarter increased by 28.3% annually to ₹155.21 crores, compared to ₹120.99 crores in March 2023 quarter.
During the quarter, the company’s consolidated net profit on an annual basis increased by 21.7% to ₹33.45 crores, up from ₹27.49 crores in the previous financial year. Vijaya Diagnostic’s consolidated revenue for FY24 increased by 19.3% annually to ₹547.81 crores, compared to ₹459.22 crores a year ago.
The company’s net profit also increased by 40.4% to ₹118.83 crores, up from ₹84.63 crores in the previous financial year. With strong quarterly results, expansion plans, and good margins, brokerage firms are hopeful of further growth in Vijaya Diagnostic’s shares. Nuvama Institutional Equities has maintained a ‘Buy’ rating on the stock and raised the target to over 20% to ₹910 per share.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
