India's Alembic Pharma gains as brokerages optimistic after quarterly profit rise
BUZZ-India's Alembic Pharma gains as brokerages optimistic after quarterly profit rise ** Shares of Indian drugmaker Alembic Pharmaceuticals ALEM.NS rise as much as 3.8% to 840.40 rupees; last up 2.1%
** ALEM set for third straight day of gains, if trend holds
** Co on Tuesday reported first-quarter profit up 12.1% y/y; rev from ops up 25.7% y/y
** Dolat Capital ("buy", PT 903 rupees) says earnings beat estimates thanks to strong performance across segments, expects recovery in earnings growth from FY28 onwards
** Antique Stockbroking ("Buy") raises TP to 1275 rupees from 1154 rupees; says execution strength in India and high-value competitive launches in U.S. to drive growth
** ALEM on avg rated "Buy" by 9 analysts; median PT is 901.50 rupees - data compiled by LSEG
** Stock down 2.4% YTD
(Reporting by Abhirami G in Bengaluru)
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