India's Piramal Pharma margins may reach high-teens by FY26 - Jefferies

Piramal Pharma (Mumbai)

23/11/2023 08:52

** Brokerage Jefferies expects margins for India's Piramal
Pharma  PIRM.NS  to reach high teens by end FY26, shares up as
much as 5.21%
    ** Adds margin expansion mainly led by stronger orders in
contract development and manufacturing organisation 
    ** Brokerage expects co to strongly leverage on antibody
drug conjugates, peptides; complex hospital generics margins to
remain stable 
    ** See high interest amongst investors trying to understand
PIRM's turnaround potential - note 
    ** More than 14 mln shares changed hands by 2:15 p.m. IST,
1.4x 30-day avg 
    ** YTD stock had risen 11.6% vs ~26% increase in the Nifty
Pharma index  .NIPHARM 

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))