India's Marksans Pharma hits near 7-month high as Q2 profit rises

Marksans Pharma

15/11/2022 06:01

** Shares of Marksans Pharma  MARK.NS  rise as much as 7.14%
to 54.75 Indian rupees, their highest level since April 29
    ** Co on Monday reported a 34.7% y/y rise in Sept-quarter
consolidated profit at 612.5 mln rupees ($7.53 mln) as demand
for over-the-counter drugs continued to grow
    ** Marksans quarterly revenue from operations rose 22.1% to
4.53 bln rupees
    ** More than 3.4 mln shares traded, 2.2x times their 30-day
moving avg of 1.5 mln
    ** One analyst covering the stock has a "buy" rating; median
PT is 80 rupees - Refinitiv data
    ** Up to last close stock down 15.1% YTD vs the Nifty Pharma
index's  .NIPHARM  8.5% fall
($1 = 81.3480 Indian rupees)
 (Reporting by Akansha Victor in Bengaluru)
 ((Akansha.Victor@thomsonreuters.com; Mobile: +919654878265;))