Motilal Oswal Financial Services has initiated coverage on Molbio Diagnostics with a 'Buy' rating and a target price of Rs 1,800, implying a potential upside of 21% from its current market price. The brokerage believes the diagnostics company is well placed to benefit from the expansion of decentralised molecular diagnostics, with its Truenat platform at the centre of the growth story.
Molbio has built its business around Truenat, a portable molecular testing platform that enables point-of-care testing with limited infrastructure. The platform has more than 12,500 devices across over 90 countries and offers 43 assays covering 30 diseases.
