India's Merck Ltd hits record after profit jump

Abbott India

30/04/2018 07:01

** Shares of Merck Ltd  MERK.NS  rise as much as 14.1 pct to
their all-time high of 2,172.8 rupees
    ** Stock posts biggest intraday pct gain in a week
    ** Merck reported https://www.bseindia.com/xml-data/corpfiling/AttachHis/e1846a5c-a141-4b0a-a447-ce1ff45859fe.pdf
 a 53 pct jump in March-qtr profit on Friday, boosted by a 22
pct rise in revenue from its pharmaceuticals business
    ** IDBI Capital says margins at co's pharma and chemical
segments improved. Given some products exiting the National List
of Essential Medicines, there could be further improvement in
pharma margins
    ** Says with open offer being triggered as co's parent
closed the sale of consumer business to P&G, the run up in the
stock price can be used to exit Merck India
    ** IDBI Capital downgrades stock to 'sell' and advices to
switch from Merck to Abbott India Ltd  ABOT.NS  
    ** Merck has risen nearly 48 pct this year up to Friday,
while Abbott India has gained about 12 pct

 ((Reuters Messaging:
vishal.sridhar.thomsonreuters.com@reuters.net))