India's Emcure Pharma jumps after Kotak upgrades to 'buy' on upbeat growth prospects

Emcure Pharmaceuticals

26/11/2024 07:15

** Shares of Emcure Pharmaceuticals  EMCU.NS  jump 5.8% to
1,387.9 rupees
    ** Kotak Institutional Equities upgrades rating on stock to
"buy" from "add"; keeps fair value (FV) of 1,680 rupees, a 28%
premium to last close - LSEG data
    ** Kotak's rating highest among three brokerages covering
stock - LSEG
    ** Says co's organic growth expected to pick up more in H2
FY25, with upbeat prospects in countries including India, Canada
    ** Factors such as licensing deal with Sanofi India
 SANO.NS , EMCU expected to report 13% CAGR over FY24-27 - Kotak
    ** Expects Canada organic business to deliver 16% growth in
H2 FY25 on benefits from partnership with Mantra Pharma
    ** EMCU eyes busiest day since early Oct, volumes at 3.7x
the 30-day avg 
    ** EMCU up ~5% since listing on July 10 
    
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))