India's Piramal Pharma gains on Q2 profit surge

Piramal Pharma (Mumbai)

24/10/2024 05:48

** Shares of Piramal Pharma  PIRM.NS  rise 6.5% to 233
rupees
    ** Co posted a near five-fold surge in Q2 consol net profit
to 225.9 mln rupees (~$3 million)
    ** Revenue in core contract development and manufacturing
organisation segment jumps 24%
    ** More than 12 mln shares change hands, 1.5x its 30-day avg
    ** Five analysts covering the stock on avg have a "buy"
rating; median PT is 260 rupees - LSEG data
    ** Stock up 68% so far this year

($1 = 84.0650 Indian rupees)
    

 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))