India's Alembic Pharma hits over 3-year high

Alembic Pharmaceuticals

21/02/2024 09:43

** Shares of drugmaker Alembic Pharma  ALEM.NS  rise as much
as 4.4% to 1,094 rupees, their highest since Jan. 2021
    ** Reuters could not immediately verify the reason for the
stock move
    ** Stock last up 2.3%, on track for third straight session
of gains
    ** Trading volume 1x the 30-day moving average
    ** ALEM reported Q3 profit that beat analysts' estimates on
Feb. 5, stock up 11% since then
    ** Analysts' avg rating on ALEM at "hold"; median PT is
867.50 rupees - LSEG data
    ** Stock extends YTD gains to 41% after rising ~33% in 2023
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))