This pharma stock jumps over 4% after strong Q4 results - Check new targets by Anil Singhvi

Mankind Pharma Share Price Target, Mankind Pharma Share 4 Results: Share of pharma company Mankind Pharma surged over 4 per cent in the morning trade on Thursday i.e. on May 16. The surge in share price comes a day after the company reported a 62 per cent increase in profit after tax in the March quarter of the financial year 2024. 

The counter opened at Rs 2,279.90, a surge of over 4 per cent from the previous close of Rs 2,190.65 on the BSE. The counter went on to hit a high of Rs 2,294.90 as equity benchmark indices opened on a positive note. While Sensex climbed over 350 points, Nifty was up by 100 points. 

Mankind Pharma Share Price Target: Check Targets By Anil Singhvi

Zee Business Managing Editor Anil Singhvi suggested investors 'buy' shares of Mankind Pharma with targets of Rs 2,230, 2,280 and Rs 2,300.

Singhvi suggested that investors can keep a stop loss of Rs 2,170.

Mankind Pharma Share Price History

Shares of Mankind Pharma have given a positive return of around 67 per cent in one year and around 21.67 per cent in six months. In one week, the counter has given a positive return of Rs 5.18 per cent.

Mankind Pharma Q4 Results 

Meanwhile, the drug maker has reported a consolidated profit after tax of Rs Rs 477 crore in the March quarter. 

Mankind Pharma had reported a profit after tax (PAT) of Rs 294 crore for the January-March period of FY23.

Revenue from operations rose to Rs 2,441 crore in the period under review from Rs 2,053 crore in the year-ago period, Mankind Pharma said in a statement.

For the year ended March 31, 2024, the company reported a PAT of Rs 1,942 crore, up 48 per cent from Rs 1,310 crore in FY23. Revenue from operations rose to Rs 10,335 crore in FY24 as against Rs 8,749 crore in FY23.