India's Piramal Pharma rises after JM Financial initiates with Street-high target price

Piramal Pharma (Mumbai)

17/12/2024 07:09

** Shares of Piramal Pharma  PIRM.NS  rise 5.1% to 264.05
rupees
    ** JM Financial Institutional Securities starts coverage
with a "buy" and TP of 340 rupees, a Street-high, per data
compiled by LSEG
    ** TP at 35% premium to stock's previous close
    ** PIRM's differentiated offerings, global manufacturing
presence and end-to-end capabilities will help to capitalise on
the ongoing contract drug manufacturing industry expansion -
note
    ** Brokerage sees margin expansion on increasing
contribution from on-patent manufacturing
    ** PIRM stock up ~91% YTD vs 24% gains in 2023
    

 (Reporting by Vijay Malkar)
 ((VijayDattaram.Malkar@thomsonreuters.com;))