Emcure Pharmaceuticals shares jump 10%; Kotak upgrades stock to ‘Buy’
Emcure Pharmaceuticals Ltd shares surged 9.91 per cent in Tuesday’s trade to hit a day high of Rs 1,440.90. The stock was last seen trading 6.19 per cent up at Rs 1,392.15. At this price, it has climbed just 2.45 per cent on a year-to-date (YTD) basis.
Today’s upward move in the share price came after Kotak Institutional Equities upgraded Emcure Pharma to ‘Buy’ from ‘Add’ with an unchanged fair value of Rs 1,680, suggesting a potential upside of 20.68 per cent as against a value of Rs 1,392.15.
“After a decent H1 FY25 print, we expect a further pick-up in Emcure’s organic growth in H2 FY25, with upbeat prospects across India, Canada and ROW (rest of the world). Compared to 6 per cent year-on-year (YoY) in H1 FY25, we estimate 9 per…
