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Motilal Oswal Initiates 'Buy' on Molbio Diagnostics, Sees 70% Return in 'Bull Case'.
- •Motilal Oswal Financial Services initiated coverage on Molbio Diagnostics with a 'Buy' rating, setting a base case target price of ₹1,800.
- •In Motilal Oswal's 'Bull Case', the share could reach ₹2,575, representing an upside of approximately 70% from Friday's closing price.
- •Motilal Oswal projects Molbio Diagnostics' revenue to grow from ₹1,445.7 crore in FY26 to approximately ₹2,700 crore by FY29.
- •TrueNat, a portable and battery-operated molecular diagnostics platform, is identified as the primary driver of Molbio's growth.
- •Molbio Diagnostics' shares have already doubled from their IPO price of ₹807, reaching a high of ₹1,686 since listing on August 17.
Key Questions Answered
Motilal Oswal initiated coverage on Molbio Diagnostics with a 'Buy' rating, setting a base case target price of ₹1,800 per share. In its bull case, the brokerage estimates the stock could reach ₹2,575, which represents an upside of approximately 70% from Friday's closing price.
Molbio Diagnostics' portable and battery-operated molecular diagnostics platform, TrueNat, serves as the primary driver of the company's growth, contributing about 90% of its revenue in FY26. The growth is expected to be driven by new device placements, higher utilization of existing installations, and a shift towards recurring test-kit sales.
Molbio Diagnostics was listed on the stock market on August 17 at ₹980 on the NSE and BSE, marking a 21.44% premium over its IPO price of ₹807. Following its listing, the share hit a high of ₹1,686, doubling compared to its IPO price in just 21 days.
