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Mankind Pharma Shares Soar as Kotak Upgrades to 'Buy,' Raises Price Target
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CNBC TV18•22-09-2026, 09:38
Mankind Pharma Shares Soar as Kotak Upgrades to 'Buy,' Raises Price Target
- •Mankind Pharma shares extended gains after Kotak Institutional Equities upgraded its recommendation to "buy" from "add."
- •Kotak raised the price target for Mankind Pharma to ₹3,000 from ₹2,885, indicating a 23% upside potential.
- •The brokerage noted a recovery in Mankind Pharma's domestic business, with secondary sales growth outpacing the Indian pharma market.
- •Mankind Pharma reported strong Q1 earnings, with profit up 30% to ₹568 crore and revenue up 13% to ₹4,031 crore.
- •Kotak expects a robust 23% EPS CAGR for Mankind Pharma over FY26-29, driven by field force stability and R&D.
Key Questions Answered
Kotak Institutional Equities upgraded its rating on Mankind Pharma to "buy" from "add" and raised its price target from ₹2,885 to ₹3,000.
The upgrade is driven by tangible signs of recovery in the base domestic business following a prolonged restructuring impact, alongside field force stability and growth in new launches and volumes.
Mankind Pharma reported a 30% increase in profit to ₹568 crore, a 13% rise in revenue to ₹4,031 crore, and a 25% increase in EBITDA to ₹1,057 crore for the June quarter.
