India's Mankind Pharma up as Motilal Oswal gives Street-high PT

Mankind Pharma

26/08/2024 08:51

** Mankind Pharma  MNKI.NS  up 1% at 2,385.65 rupees, top
gainer among pharma stocks  .NIPHARM 
    ** Motilal Oswal ("buy" rating) raises PT to 2,760 rupees
from 2,650 rupees, stays highest among covering brokerages
    ** Median PT of 12 brokerages is 2,310 rupees, per LSEG data
    ** Motilal Oswal likes MNKI's efforts to diversify product
range, market share gains in chronic therapy prescription drugs
and ability to scale brands to as high as 1 bln rupees
    ** Adds co's superior execution track record of acquisitions
provide better long-term visibility on free cash flow generation
    ** MNKI is among eight of 20 Nifty Pharma stocks rated "buy"
or higher - LSEG
    ** Stock's ~21% YTD gain trails index's ~34% rise

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