Concord Biotech shares: Jhunjhunwalal-backed stock head for strong upside; check targets

Concord Biotech share target price: Pharmaceutical player Concord Biotech Ltd gained as it posted strong June 2026 quarter earnings, while technical indicators signalled a bullish breakout. Analysts remain constructive on the pharma stock, citing improving fundamentals, rising oncology contribution, better capacity utilisation and favourable chart patterns that could support upside.

Concord share price  Shares of Concord Biotech rose nearly 4 per cent during the trading session on Tuesday to Rs 1,469.60, commanding a total market capitalization of Rs 15,000 crore. The stock is down nearly 20 per cent from its 52-week high at Rs 1,801.90 hit a year ago, while it has rebounded nearly 50 per cent from its 52-week low hit in April this year.

Shares of Concord Biotech were listed at the bourses in August 2023, when the company raised a total of Rs 1,551 crore from its IPO. The stock has nearly doubled investors wealth from its IPO price, while it has gained nearly 15 per cent in the last one week. 

Jhunjhunwala's stake in Corcord Biotech Rekha Rakesh Jhunjhunwala owns a significant stake in the company, through three discretionary trusts named after their children. Their cumulative holding in the company stood at 2.52 crore equity shares, or 24.09 per cent stake, which is valued at Rs 3,703.28 crore as of Tuesday's high.

Aryavir Jhunjhunwala Discretionary Trust holds 83,99,754 shares (8.03 per cent stake), Aryaman Jhunjhunwala Discretionary Trust holds 83,99,754 shares (8.03 per cent stake) and Nishtha Jhunjhunwala Discretionary Trust holds 83,99,732 equity shares (8.03 per cent stake) in the company as of June 30, 2026.

Concord Biotech price targets Technical analysts believe that Concord Biotech's charts indicate a bullish setup with an ascending triangle breakout, higher highs and higher lows, and strong support from key moving averages. Positive RSI and MACD signals suggest strengthening momentum, while sustained buying interest points to the potential for further upside in the medium term.

Concord Biotech is exhibiting an ascending triangle formation on the daily chart, reflecting sustained accumulation after a strong recovery from lower levels. It has been making higher lows while repeatedly testing the horizontal resistance, indicating increasing buying pressure. The breakout, backed by improving RSI and a positive MACD crossover, suggests strengthening bullish momentum, said SMC Global Securities.

"The rising trend line support is placed Rs 1,270-1,290, is expected to provide immediate support on any pullback, while the Rs 1,390-1,410 zone becomes the key breakout support. A sustained close above Rs 1,410 could extend the next up move. One can accumulate a stock on dips in range of Rs 1,380-1,400 levels for the expected upside of Rs 1,540-1,550 with stop loss below Rs 1,275," it said.

Concord  has delivered a decisive breakout above the multiple resistance zones around 1,390, backed by a strong bullish candle on the weekly chart, signalling the onset of the medium-term uptrend. It is firmly positioned above its 20-, 50-, 100-, and 200-day SMAs, with all key moving averages trending higher in sync with price action, confirming a strong bullish structure, said Axis Direct.

"Price action continues to form a higher high–higher low pattern, reinforcing the prevailing positive trend and indicating sustained buying interest. Momentum indicators remain supportive, with the weekly RSI holding above its reference line, indicating a positive bias and strengthening the bullish outlook," it added with target price of Rs 1,550-1,600 and stop loss Rs 1,313.

Concord Biotech Q1 results Concord Biotech reported a 32.8 per cent growth in the net profit on a year-on-year (YoY) basis to Rs 58.5 crore, while its revenue improved 26.2 per cent YoY to Rs 257.4 crore for the June 2026 quarter. The pharma player's EBITDA grew 34.2 per cent YoY to Rs 82.4 crore, while EBITDA margins improved to 32 per cent for the reported quarter.

With the demand environment improving and long-term growth drivers remaining intact, Concord may deliver a recovery in FY27E, followed by a stronger growth in FY28E. The growth is expected to be driven by both, the API and formulations businesses, supported by the scale-up of the oncology portfolio, continued market share gains, increasing contribution, said Choice Institutional Equities.

We anticipate EBITDA margin to improve to 37–40 per cent in the next three years, driven by better utilisation of the injectables facility, which is operating at around 5 per cent utilisation. We revise our FY27E/FY28E earnings estimate upwards by 9.0 per cent/18.2 per cent. We continue to value it at 40 times FY28E EPS, resulting in a revised target price of Rs 1,645," it said with an 'add' rating.