Piramal Pharma Share Price Overview and Analyst Insights

Piramal Pharma share price has jumped 23% during September, contributing to an impressive 68% year-to-date increase. This surge is driven by robust trading volumes and optimistic growth forecasts that bolster investor confidence in the stock. However, recent trading sessions have witnessed minor corrections due to profit booking activities. The recently passed draft US Biosecure Act has not only renewed confidence in Indian contract development and manufacturing organisations (CDMO) like Piramal Pharma but has also opened new avenues for business as US pharmaceutical companies consider shifting their manufacturing away from China.

Piramal Pharma share price today opened at ₹238.45 on the BSE, peaking at ₹239.95 and dipping to ₹230.65. Rajesh Bhosale, an analyst at Angel One, noted that the stock is in a strong uptrend, affirming that any dips are likely to be bought into, with strong momentum recently fueled by high trading volumes. The expected resistance lies at ₹260 with support established around ₹210.

The recent quarterly results indicate a narrowing of Piramal Pharma’s consolidated net loss to ₹88.64 crore for Q1 ended June 30, 2024, from ₹98.58 crore in the previous fiscal year. The consolidated operational income climbed to ₹1,951.14 crore, up from ₹1,748.85 crore year-over-year. Nandini Piramal, chairperson of Piramal Pharma, emphasized the steady inflow of orders in the CDMO division, particularly for on-patent manufacturing, reinforcing the company's growth trajectory.