Piramal Pharma share price rises over 7% to hit 18-month high. Here's why

Piramal Pharma share price: Piramal Pharma finished the last six out of seven weeks in green and has gained 32% in the past seven weeks.

Updated on: May 3, 2024, 15:36:20 IST

By HT News Desk

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Piramal Pharma share price: Shares of Piramal Pharma jumped 7.35% in today's trading session to reach a new 52-week high of ₹153.90 apiece. With this, the stock reached its highest level in 18 months. It finished the last six out of seven weeks in green and has gained 32% in the past seven weeks.

Piramal Pharma share price (Photo credit: Pexels)

Piramal Pharma: Is it above IPO price yet?

The stock is yet to surpass its IPO price of ₹200, which hasn't been achieved since its listing in October 2022. Currently, it remains 24% below the issue price.

More on Piramal Pharma

Piramal Pharma Limited (PPL) is part of the Piramal Group of Companies which was demerged from Piramal Enterprises. The company's portfolio includes differentiated products and services through its 17 global development and manufacturing facilities and a global distribution network.

It operates in over 100 countries through three major segments: contract development and manufacturing organisations (CDMO), Complex hospital generics (critical care), and consumer healthcare (OTC).

Jefferies on Piramal Pharma

Read more: What does IndiGo’s A350 order mean for Airbus?

Brokerage firm Jefferies in March recommended a 'buy' rating on the stock, anticipating revenue growth for the financial year 2025 (FY25). It set a target price of ₹170 per share and projected a year-on-year revenue growth of 12.5% for FY25 for Piramal Pharma.

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HT News Desk
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