India's IPCA Labs at record high on Motilal Oswal's upgrade, Street-high PT

Ipca Laboratories

14/10/2024 10:31

** IPCA Laboratories  IPCA.NS  climbs as much as 3.2% to a
record high of 1,707.70 rupees
    ** Motilal Oswal upgrades to "buy", raises PT to Street-high
of 1,950 rupees - an 18% upside to last close
        ** Expects strong earnings growth - 27% CAGR in exports
in FY24-27 vs 3.6% growth in FY21-24
  
    ** Says IPCA to see exports growth on back of new launches
and revival of U.S. business through improving FDA compliance
        ** Around 835,000 shares traded, nearly twice the 30-day
avg
  
    ** Stock rated "buy" on avg; median PT is 1,400 rupees -
LSEG
    ** IPCA last up 1.9%, extending YTD gains to ~52%

 (Reporting by Nishit Navin)
 ((nishit.navin@thomsonreuters.com;))