India's Natco Pharma hits record high after Q1 profit jump

Natco Pharma

12/08/2024 09:50

** Shares of Natco Pharma Ltd  NATP.NS  rise as much as 6.9%
to a record high of 1,539.70 rupees
    ** Drugmaker's Q1 profit jumps 60%, driven by robust exports
formulation business
    ** NATP's Q1 rev up ~20%, while expenses fall 8%
    ** Stock top gainer on Nifty Pharma index  .NIPHARM 
    ** Over 2.9 mln shares traded, 3x the 30-day avg volume
    ** Analysts tracking stock rate it "buy" on avg - LSEG data
    ** Stock up 84% YTD, top gainer on Nifty Pharma index

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