Shares of Indegene Ltd. traded higher on Friday, September 25, after brokerage Motilal Oswal lifted the stock from Neutral to Buy.
Motilal Oswal’s research team set a ₹708 price target, citing the company’s strategic positioning within the growing life‑sciences outsourcing market.
According to the firm’s filing, revenue, EBIT and PAT are forecast to grow at compounded annual growth rates of 19%, 29% and 27% respectively from FY26 to FY28, while EBITDA margin should rebound to 19‑20% by Q4 FY27.
Indegene’s operational metrics back the outlook: revenue per employee exceeds that of IT services peers and is nearly three times higher than comparable healthcare BPO firms, underscoring efficiency advantages.
The brokerage highlights rising demand for outsourced clinical, regulatory, medical and commercial services in the pharma sector, driven by expanded drug pipelines and intensified regulatory pressures that push companies to delegate non‑core functions.
Investors will be watching the upcoming earnings release and any guidance on margin expansion, as the firm’s integrated capabilities position it to capture a widening outsourcing opportunity in the life‑sciences space.