Mankind Pharma’s shares dropped 2% after Macquarie downgraded the stock to ‘Underperform,’ reducing its target price to ₹2,150. As of 9:34 AM, Mankind Pharma shares were trading 2.25% lower at Rs 2,643.95.
The downgrade stems from concerns over slowing growth in the domestic formulations segment and challenges from recent acquisitions, particularly the Bharat Serum and Vaccine (BSV) deal. As per Macquarie, the acquisition is expected to hurt bottom-line performance, leading to earnings dilution. Additionally, export growth is flagged as a potential headwind. Earnings estimates for FY25/26/27 have been cut by 17%/24%/17%.
Mankind Pharma shares opened at ₹2,688.50 and reached a high of ₹2,688.50, with a low of ₹2,640.05 for the day. The stock’s 52-week high stands at ₹3,054.80, while the 52-week low is ₹1,901.05.
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