Comments
Shares of pharma co Merck Ltd climbed as much as 5.1 per cent to Rs 1,520 on strong results. The stock posted its biggest intraday percentage gain since February 12.
IDBI Capital has raised the rating to “accumulate” from “hold", and it has revised the price target to Rs 1,613. The company had on Thursday reported 40 per cent jump in December-quarter profit.
According to IDBI Capital, the quarterly revenue in line with its estimates. It says key upside risks include higher-than-expected domestic sales growth on the back of price hikes and new product launches and pick-up in injectable space which is a high-margin segment. Up to Thursday's close, stock had risen 32 per cent in 12 months.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.