India's Mankind Pharma drops on 1 billion rupee tax demand

Mankind Pharma

03/03/2025 09:32

** Shares of India's Mankind Pharma MNKI.NS drop as much as 5.3% to 2,168.20 rupees; last down 1.4%

** Stock on track for third straight session of decline

** Drugmaker says it received tax demand worth 1.12 billion rupees ($13 million) from the income tax department

** Trading volume at more than 694,000 shares, same as 30-day moving average

** Average rating of 14 analysts on MNKI at "buy"; median PT is 2,828.50 rupees - data compiled by LSEG

** Stock down 22% YTD vs 15% drop in the pharma index .NIPHARM

($1 = 87.3675 Indian rupees)

 (Reporting by Kashish Tandon in Bengaluru)

 ((Kashish.tandon@thomsonreuters.com))