Emcure Pharmaceuticals Up 10%; Check Details

Shares of Emcure Pharmaceuticals rose by 9.9% during today’s trading session as it clocked an intraday high of ₹1,440.9 apiece on BSE. While Sensex was down by 0.24% at 79,914.82, the market capitalisation of the company surged to ₹26,228.89 crore.

Emcure Pharmaceuticals reported a net profit of ₹202 crore, up by 38.2% during the September quarter as compared to ₹145.8 crore in the previous year. Revenue was up by 20.4% at ₹2,002 crore in Q2 against ₹1,663 crore in corresponding quarter a year earlier.

Kotak Institutional Equities has upgraded the stock from ‘add’ to ‘buy’ with an unchanged target price of ₹1,680 apiece. Notably, the growth of the stock will also be led by an in-licensing deal with Sanofi and consolidation of Mantra.

Making a strong debut on the bourses on July 10, the shares of the company were listed at a premium of 31.45% at ₹1,325.05 on the BSE, over the issue price of ₹1,008.

Founded in 1981, Emcure Pharmaceuticals specialises in research, development, manufacturing and marketing of generic pharmaceutical products.