Mankind Pharma Stock Price Hits Fresh All-Time High Following Investec Buy Rating
Mankind Pharma Stock Price Surges
Shares of Mankind Pharma, a leading player in the Indian pharmaceutical sector, zoomed 7% in early trading today, hitting a remarkable new all-time high of ₹2,597 per share. This surge follows global brokerage Investec’s initiation of coverage with a 'buy' rating and a target price of ₹3,300, indicating a significant potential upside of 36% from the previous closing price.
Investec's Strong Rationale
Investec highlighted Mankind Pharma’s impressive execution capabilities and robust brand equity. The firm recognizes the strategic alignment with Bharat Serums and Vaccines (BSV), a brand recently acquired by Mankind. The brokerage emphasized BSV’s expertise in research and development, which complements Mankind’s vision.
Growth Potential in IVF Market
Furthermore, the underpenetrated in-vitro fertilization (IVF) market presents substantial growth opportunities, positioning the Mankind-BSV partnership as a winner. Investec believes that the market has been underestimating the long-term growth potential of BSV’s specialty business, expected to be a significant driver for Mankind Pharma.
Target Price and Analysts’ Opinions
Investec's target price is currently the highest among analysts, suggesting strong confidence in Mankind's trajectory. Prior to this, Motilal Oswal had also increased its target price to ₹2,760 per share.
Company Performance Overview
Trading an impressive 138% above its initial issue price, Mankind Pharma debuted on May 9, 2023, at ₹1,422. The company specializes in developing pharmaceutical formulations across numerous therapeutic areas.
Market Growth Trends
India's pharmaceutical sector is expected to grow at a rapid rate of 10%, fueled by healthcare spending and increasing awareness about quality healthcare.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.