India's IPCA Labs jumps on margin expansion hopes

Ipca Laboratories

14/03/2024 07:52

** Shares of IPCA Laboratories  IPCA.NS  up 5% at 1,190.90
rupees, set to snap two-day losing run
    ** Brokerage HSBC expects IPCA to see notable margin
expansion on healthy growth in focus markets, India and UK, and
easing cost pressure
    ** HSBC upgrades stock to "buy" from "hold" and hikes PT to
1,335 rupees from 1,125 rupees
    ** HSBC's rating is IPCA's first "buy" rating since Oct.
2023 - LSEG
    ** Brokerage's PT is second-highest among 14 analysts - LSEG
    ** Improving productivity of India sales team and pick up in
newer segments such as derma to push sales up at a CAGR of 14%
for FY24-26 in India, IPCA's biggest market - HSBC 
    ** Avg rating of analysts at "hold"; median PT is 1,135
rupees - LSEG
    

 (Reporting by Kashish Tandon in Bengaluru)
 ((kashish.tandon@thomsonreuters.com))