India's Shilpa Medicare hits record high on Antique Stock Broking 'buy' rating
16/09/2024 08:54
** Shares of Shilpa Medicare SHME.NS rise as much as 4.7%
to record high of 924 rupees
** Antique Stock Broking starts with a "buy" and TP of 1,300
rupees - a 47% premium over last close
** Brokerage expects SHME's revenue to grow at ~34% CAGR
over FY 25-27, driving EBITDA margin to 35% by FY27
** Growth to be driven by active pharmaceutical ingredient
launches, robust pipeline of limited-competition products,
capacity build-up in higher rev businesses like biosimilars
** SHME has hit 7 record highs in Sept, gaining 17% in the
period
** Stock has surged 171% in 2024, set for best year ever
(Reporting by Nishit Navin)
((nishit.navin@thomsonreuters.com;))
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