The company attributed the weaker performance largely to continued inventory destocking in one of its large on-patent commercial products, affecting its CDMO business
Following the results announcement, the company's share price rose 3.78 per cent to log an intraday high of ₹159.79 per share
While HDFC Securities has assigned a 'Buy' rating to Divi's Labs, Sai Life Sciences, and Piramal Pharma, it has given an 'Add' rating to Anthem BioSciences and a 'Reduce' rating to Laurus Labs
Stocks to watch today, December 12: Piramal Pharma, Kansai Nerolac and Oswal Pumps are other top stocks to track today.
Year-to-date (Y-T-D), Piramal Pharma shares have lost 23 per cent, as compared to Sensex's rise of 5 per cent
Jefferies is optimistic on India's CRDMO sector, given its evolution from quasi-chemical firms into strategic partners for innovators; check more details
Analysts noted that the central bank's move was more of a non-event for the markets, with uncertainty surrounding tariffs having a greater impact on investor sentiment