Namita Thapar's Emcure Pharmaceuticals Ltd. was listed only a month and a half ago, on July 10, 2024. The Maharashtra-based pharma got some positive news as it bagged its first 'Buy' rating from a renowned American rating agency, Jefferies.
Jefferies Gives Emcure Buy Call
This positive rating from the New York-based group has provided an impetus for Emcure's performance at Dalal Street. The company shares made gains on Monday, August 26.
The broking firm has assigned a price target of Rs 1,600. Currently, the share is priced above Rs 1,400.
Over the past 5 trading sessions alone, the company has gained 6.31 per cent.
On August 26, the company shares jumped significantly, after which, it took a downward trajectory. The fortunes of the company's shares have wavered a little, at the half-way mark.
Emcure Shares Boom
After reaching the high of Rs 1,440.80, the shares slumped, yet continued to be in green. Thereafter, there was a recovery that was observed. At 12:33 IST, Emcure shares gained by 1.44 per cent or Rs 20.00, taking the overall value of the share to Rs 1,405.20.
According to reports, the company accrued a total revenue of Rs 1,815.14 crore in the previous quarter. Furthermore, the company also added an operating income of Rs 242.73 crore. The company's operating expenses stood at Rs 1,572.41 crore. In all, it saw a net income of Rs 144.08 crore.
Namita Thapar, who is seen as the face of the company, was famously a judge in the Indian version of the TV reality franchise show, Shark Tank India. | Instagram - Namita Thapar
A 'Buy' call is deemed a positive development and is issued at a time, when it is anticipated that the stock in focus is expected to grow and expand in the time to come. In the case of Emcure, Jefferies' bullishness comes after the stock has soared by about 40 per cent from its issue price of Rs 1,008.
Namita Thapar, who is seen as the face of the company was famously a judge in the Indian version of the TV reality franchise show Shark Tank India.
