India's Alkem Labs gains on agreement with Sunsure Solarpark

Alkem Laboratories

18/12/2024 05:50

** Shares of Alkem Labs  ALKE.NS  rise 2.4% to 5,526 rupees
    ** Stock among top gainers on the Nifty Pharma index
 .NIPHARM , which is up 1.44%
    ** The pharma co said on Tuesday it entered into an
agreement for equity investment in Sunsure Solarpark by
investing 19.5 mln rupees ($229,633)
    ** Sunsure Solarpark engaged in business of generation,
production and distribution of electricity from renewable energy
sources
    ** Eighteen analysts covering the stock on avg have a "hold"
rating; median PT is 6,053 rupees - LSEG data
    ** Stock up 6% YTD vs a 33% gain in .NIPHARM


    ($1 = 84.9180 Indian rupees)

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com))