Emcure Pharma shares hit record high after 10 per cent jump
The stock reached ₹2,180.80 on Wednesday following strong second quarter results for the pharmaceutical company.
Emcure Pharmaceuticals shares rose 10 per cent to ₹2,180.80 on Wednesday, November 4, reaching a record high on the BSE. According to reports from Mint and Business Standard, the stock has gained 16 per cent over two trading sessions.
The rally follows the company's Q2FY27 results, which showed a 29.3 per cent year-on-year increase in adjusted profit after tax to ₹325.1 crore. Revenue from operations grew 24.3 per cent to ₹2,820.5 crore compared to ₹2,269.8 crore in the corresponding quarter last year.
The company's international business reported sales of ₹1,665.2 crore, a 34.5 per cent increase, while domestic revenue rose 12 per cent to ₹1,155.3 crore. Business Standard noted that domestic growth was led by women's health, cardio-metabolics, and central nervous system segments.
Under its One Emcure vision, the company plans to merge Zuventus and Emcutix with the holding company to simplify its structure. Jefferies has maintained a Buy rating on the stock, increasing its target price to ₹2,500 from ₹2,320.
Kotak Institutional Equities also retained a Buy rating with a target price of ₹2,450. ICICI Securities stated that Emcure's focus on complex products and partnerships has started to bear fruit.