India's Piramal Pharma surges on Q2 profit, analysts' positive view

Piramal Pharma (Mumbai)

31/10/2023 08:59

** Shares of Piramal Pharma  PIRM.NS  rise 14.61% in highest
intraday pct gain since listing
    ** Co on Friday posted Q2 net profit of 50.2 mln rupees
compared to net loss of 373.4 mln rupees in year-ago period
    ** Revenue from operations jumped 11.10% Y/Y
    ** Jefferies says that PIRM is back on growth path and sees
scope for stock doubling in value over the next three years
    ** PIRM's improved revenue visibility, strong order flows,
cost optimisation measures to drive growth, says Motilal Oswal
Financial Services
    ** Trading volume is 35.15 mln shares as of 2:16 p.m. IST,
more than eight times the 30-day avg - LSEG data
    ** Including day's gains, stock cut YTD losses to 4.5%

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))