India's Emcure Pharma at record high as Jefferies starts with "buy"

Alkem Laboratories

26/08/2024 05:09

** Emcure Pharma  EMCU.NS  jumps 5.1% to record 1,455.20
rupees
    ** Jefferies starts with "buy" and 1,600 rupees PT
    ** Says EMCU can be fastest-growing Indian drugmaker, with
improving product mix driving profit CAGR of 29% from FY24-27
    ** Values EMCU at 7% premium to peer Alkem Laboratories
 ALKE.NS  on better premium portfolio, domestic business
expansion ability and insulation from "volatile" U.S. market
    ** Analysts rate Alkem "hold" on avg, while only Jefferies
tracks Emcure, per LSEG data
    ** EMCU up 2.9% taking gains since July listing to 41%; ALKE
rose just ~8% in same period

 (Reporting by Nandan Mandayam in Bengaluru)
 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))