India's Natco Pharma gains after firm retains FY profit forecast

Natco Pharma

22/11/2023 05:57

** Shares of Natco Pharma  NATP.NS  rise 3.24% to 804.80
rupees as of 11:20 a.m. IST
    ** Drug maker top gainer on pharma index  .NIPHARM , which
is up 1.2%
    ** NATP retains previous profit forecast for fiscal 2024,
per the transcript of Q2 post earnings analysts' call released
late Tuesday
    ** Co expects minimal earnings impact from the eight U.S.
FDA observations for its Kothur plant in Hyderabad      
    ** NATP will consider inorganic growth opportunities, co
says, citing improved cash balance
    ** Of the 13 analysts tracking NATP, two have "strong buy,"
four "buy,", four "hold,", two "sell" and one "strong sell"
    ** NATP up 44% YTD, versus 28% rise in pharma index 

 (Reporting by Bharath Rajeswaran)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))