India's IPCA Labs extends gains on Q2 results

Ipca Laboratories

18/11/2024 08:58

** Shares of IPCA Laboratories Ltd  IPCA.NS  climb 3.5% to
1,950 rupees, extending gains after reporting higher Q2 profit
    ** Drugmaker reported a 58% jump in Q2 consol net profit on
strong domestic demand; rev grew 16%
    ** Including day's gains, IPCA up 4.3% in the last two
sessions after ending 2% higher in previous session on Thursday
    ** Nomura maintains "buy" rating on stock, expects earnings
growth to sustain
    ** Analysts tracking IPCA rate it "buy" on avg - LSEG data
    ** Stock's 41% YTD rise outperforms Nifty Pharma  .NIPHARM 
index's 28% increase this year

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