India's Mankind Pharma heads for best day in over 3 years as Q2 hints at recovery
BUZZ-India's Mankind Pharma heads for best day in over 3 years as Q2 hints at recovery ** Mankind Pharma MNKI.NS jumps nearly 8% to 2,494 rupees
** On track for biggest intraday rise since August 2023
** Top pct gainer on Nifty Pharma index .NIPHARM, which is up 1.8%
** Drugmaker reported over 39% jump in Q2 profit on Monday, stock rose 4.5%
** JM Financial upgrades stock to "add" from "reduce", raises PT to 2,638 rupees from 2,455 rupees
** Notes recovery in domestic volume growth
** "Signs of recovery reflected in improving volume growth, a richer chronic-care product mix and sustained momentum in (Bharat Serums and Vaccines)" - Kotak Institutional Equities (BUY; 3,035 rupees)
** Stock rated "buy" on average by 19 brokerage firms, median PT at 2,850 rupees- LSEG-compiled data
** YTD, MNKI up 13% vs 15.5% gain in subindex
(Reporting by Vivek Kumar M)
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