Debt-free stock is 17% near 52-week high, ICICI Securities sees more upside in 3 months
With a market valuation of ₹41,960 crore, Abbott India Ltd. is a large-cap company that operates in the pharmaceutical industry. The company provides a wide variety of nutritional products, medicinal gadgets and diagnostic solutions. Abbott India Limited is a subsidiary of Abbott’s global pharmaceutical business in India and one of the fastest growing pharmaceutical companies in the country. Abbott India shares have jumped 13.03% in 1 year and on a year-to-date (YTD) basis the stock has gained 2.48% so far in 2022. The stock has reached a 52 week high ₹23,934.45 on October 5, 2021 and a 52 week low of ₹15,514.00 on February 8, 2022. Currently, the share price is ₹19,763, which puts it 17.42% near its 52-week high and 27.38% above its 52-week low. Brokerage firm ICICI Securities placed a buy call on shares of Abbott India, which is a debt-free company according to Value Research. The brokerage established a buy range of ₹19200-19750 for the stock with a stop loss of ₹17,630.00 and a target price of ₹21,900.00. ICICI Securities maintained a target frame of 3 months for the stock to reach its given target price.