India's Mankind Pharma up on report of Bharat Serums acquisition plan

Mankind Pharma

14/05/2024 09:22

** Shares of Mankind Pharma  MNKI.NS  rise as much as 4.6%,
last up 3.2% at 2,250 rupees 
    ** MNKI is looking to acquire biopharma firm Bharat Serums
and Vaccines from private equity firm, Advent, a CNBC-TV18
report says 
    ** Advent, which owns 100% of Bharat Serums, is seeking a
valuation of $2 bln for the sale, the report added 
    ** Mankind Pharma, Bharat Serums did not immediately respond
to Reuters' request for comment
    ** Analysts' avg rating on MNKI stock is "buy", median PT is
2,029 rupees - 7% discount on last close - per LSEG data 
    ** Including session's gains, stock up 13.5% so far this
year 


 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))