Cohance Lifesciences holds 416 to 484 range, Investec at Buy

Cohance Lifesciences has held a tight range between Rs 416 and Rs 484 since June, as Investec began coverage with a Buy and Rs 560 target. Cohance Lifesciences Limited [

] traded near Rs 459.80 on 21 October, up 0.46%, as Investec started coverage with a Buy rating and a Rs 560 target. The stock has held a tight range since June. Investec expects a recovery from the second half of FY27 and sees a 30% discount to CDMO peers. The recovery has not started yet. Q1 FY27 revenue fell 23% year on year and the company reported a consolidated loss of Rs 241 crore. The structure is a tight range between Rs 416 and Rs 484, after a long fall from above Rs 1,000 to a low near Rs 270. Price sits in the middle, about 5% below resistance and 11% above support. The range is a base, not yet a reversal. A close above Rs 484 would signal a breakout. A close below Rs 416 would signal a breakdown. Either break needs rising volume. Range-bound stocks often move fast once a range ends. A close with strong volume matters more than an intraday spike. Q2 FY27 results will next test the recovery claim. Disclosure: I do not hold any position in this stock. This is not a recommendation to buy or sell. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.