Shares of Emcure Pharmaceuticals surged by over 4% on Wednesday following a favorable brokerage note from Kotak, which initiated coverage with an ‘add’ rating and a target price of ₹1,655.
Kotak highlighted Emcure’s unique position as one of the few Indian pharmaceutical companies without direct exposure to US generics, contributing to greater earnings stability.
The company’s strong portfolio in India, Canada, Europe, and emerging markets, combined with a 20%+ increase in its field force and improved capacity utilization, is expected to boost productivity. Additionally, rising per capita medicine consumption and reduced interest costs are projected to drive a 30% compound annual growth rate (CAGR) in earnings per share (EPS).
As of 9:32 am, Emcure’s shares were trading 3.99% higher at ₹1,553.20 on the NSE.
