India's Shilpa Medicare up amid hopes of strong FY24 growth

Arihant Capital Markets

08/06/2023 07:18

** Shares of Shilpa Medicare Ltd  SHME.NS  rise as much as
3.5% to 247.25 rupees
    ** Brokerage Arihant Capital says SHME may look to monetize
assets and biologic business to bolster balance sheet and invest
in future initiatives
    ** Pegs double-digit growth in FY24 topline, with op margin
expansion 
    ** If trends hold, stock on track to advance for third
consecutive session
    ** About 776,303 shares change hands by 11:36 a.m. IST, 2x
the 30-day avg - Refinitiv data
    ** Stock last up ~2%, cutting YTD losses to ~13% 

 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))