India's Piramal Pharma hits over 1-yr high on posting quarterly profit

Piramal Pharma (Mumbai)

31/01/2024 06:15

** Shares of Piramal Pharma  PIRM.NS  rise as much as 7.2%
to 149 rupees, highest price since Nov. 10, 2022
    ** Pharma firm reports Q3 net profit of 101.1 mln rupees
($1.22 mln) vs loss of 901.8 mln rupees yr ago
    ** Rev from ops rose 14.1% Y/Y 
    ** Share price above 50-day, 100-day and 200-day exponential
moving averages since Nov. 8, 2023
    ** Stock on track to snap three sessions of losses; eyes
fourth straight month of gains
    ** All four analysts covering PIRM have "strong buy" rating;
median PT is 150 rupees - LSEG data
    ** Stock rose 36.1% in Dec. qtr, its best quarterly
performance since listing in 2022





($1 = 83.1025 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))