The drugmaker's net profit surged 66.4 percent YoY to Rs 486.9 crore. The strong performance was aided by an industry-beating growth in the pharma segment
Recently listed Mankind Pharma surged over 30 percent on listing day from its price band while Ikio Lighting Ltd shares debuted over 56 percent premium from its issue price
While its attractive pricing has slightly narrowed, the brokerage firm has said that Mankind Pharma's products are still priced at a 21 percent discount to major rivals
The stock has delivered 37-percent returns since its listing in May 2023, the brokerage firm highlighted while adding that Mankind Pharma is one of the fastest growing domestic pharmaceutical companies with a leadership in value.
ICICI Prudential Life, Kotak Life, Tata AIA Life, HDFC Life and SBI Life added at least one healthcare stock to their portfolios in May while raising stakes in several others.
The firm reported a 52-percent increase in consolidated net profit at Rs 294 crore for the March quarter, aided by robust sales. Revenue rose to Rs 2,053 crore from Rs 1,726 crore in the year-ago period.
Given its healthy financial track record, domestic focus and extensive network, Mankind is likely to continue doing well, Hemang Jani of Motilal Oswal believes.
Brokerage firm Macquarie Research has given Mankind Pharma Ltd an outperform rating with a target price of Rs 1400 per share, indicating a potential upside of 29.6% from its issue price of Rs 1068 per share.