Molbio Diagnostics shares rally 9% as Jefferies initiates ‘high conviction top pick’ call for recently listed stock. Why is it bullish?

Molbio Diagnostics shares jumped after Jefferies initiated coverage with a Buy rating and named it a high-conviction top pick. The brokerage set a Rs 1,600 target price, implying 27% upside from Tuesday’s close and nearly 98% above its Rs 807 IPO price. The stock had listed at a 21% premium at Rs 980.

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