India's Mankind Pharma hits record high on Q2 profit beat, PT hikes

Mankind Pharma

06/11/2024 04:45

** Shares of Mankind Pharma  MNKI.NS  rise as much as 5.9%
to a record high of 2,874 rupees
    ** The drugmaker posted a better-than-expected 30% rise in
Q2 profit, aided by strong demand for its drugs to treat
long-term illnesses, including diabetes and cardiovascular
diseases
    ** Healthy regional mix, improving acute-chronic ratio, and
growing consumer healthcare business, to drive MNKI's rev,
analysts at Antique Stock Broking said
    ** MNKI continues to deliver better growth rate than the
industry- Motilal Oswal
    ** More than 754,000 shares change hands, 2.3x its 30-day
avg
    ** At least 8 of 14 analysts covering stock raised PT post
Q2 results, while avg rating remains "buy"; median PT is 2,838.5
rupees - LSEG data
    ** Stock up 39% so far this year vs a 36% rise in Nifty
pharma index  .NIPHARM  

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))