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The brokerage expects EBITDA margin to be in the range of 17-18% in the short to medium term, supportedby operating levers like utilisation improvement.

The stock quoted a 52-week high of Rs 275.0 and a 52-week low of Rs 175.0.

Consumer inflation has been easing for six straight months, raising hopes the Fed could soon consider softening its policy on interest rates, even though it has said it will keep raising rates this year and expects no rate cuts until 2024.

As of 30-Sep-2022, promoters held 0.0 per cent stake in the company, while FIIs held 18.7 per cent and domestic institutional investors had 1.87 per cent.

While some voices state that it is time for the government to moderate its FY24 target given that it has missed its targets the last 3 years, it is likely the Govt would continue to set an aggressive target given the background of growth push with government spending.

The Relative Strength Index of the stock stood at 43.58 on Wednesday.

Eris Lifesciences, incorporated in the year 2007, is a Mid Cap company (having a market cap of Rs 8701.37 Crore) operating in Pharmaceuticals sector.

The company continued to lose share in this segment, with a share of 13.7% in the third quarter as against 15.7% in the same period of last year. The claims ratio in this segment was high at 73%, up 120 bps year-on-year (YoY).

"Global news flows would continue to dominate the outlook for the Indian metals sector. A faster reopening in China and stimulus has provided a new lease of life for the sector, although on ground demand improvement is still elusive. Post CNY demand would be key for further rerating," said brokerage firm CLSA.

It can be observed that post a strong first leg of the up move from the level of Rs 15.85 to Rs 99.85 (31.30.2020-31.03.2021), this stock witnessed a correction closer to 61.80% of its previous up move at Rs 52.20 level in four back-to-back quarters (30.09.2021 -30.06.2022).