The company's stock has surged more than 60 per cent since listing, driving its market value to about $8.5 billion
The benchmark indices registered declines in the previous two trading sessions, which could be a bearish sign, observe analysts
The Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) is another major reason for the growth in demand for medicines in smaller towns
Currently, the stock was quoting 40 per cent higher over its issue price of Rs 1,080.
Stocks to watch on June 1, 2023: From Coal India to Mankind Pharma, here are top stocks to watch in Thursday's trading session
Mankind Pharma on Wednesday reported 52 per cent increase in consolidated profit after tax (PAT) at Rs 294 crore for March quarter 2022-23, aided by robust sales. The company had logged a PAT of Rs 193 crore in January-March 2021-22. Revenue from operations rose to Rs 2,053 crore from Rs 1,726 crore in the year-ago period, Mankind Pharma said in a statement. In 2022-23, the PAT declined 10 per cent to Rs 1,310 crore from Rs 1,453 crore in the previous year. "The company maintained its strong growth trajectory during the year..our consumer healthcare business has maintained its double-digit growth with dominant brand leadership in its categories," Mankind Pharma Vice Chairman and Managing Director Rajeev Juneja said. Earlier this month, the Income Tax Department conducted raids on the premises of the company over allegations of tax evasion.
CLOSING BELL ON MAY 30, 2023: The NSE Nifty 50 gained 35 points at 18,634; while the Bank Nifty hit a fresh all-time high at 44,499.
Analysts say retail investors' enthusiasm fizzled out post the muted listing of a majority of public offers in CY22
From a low of Rs 1,356 apiece, the stock vaulted 6 per cent to hit an intra-day high of Rs 1,439
Stocks to watch today: Mankind Pharma has confirmed that the Income Tax Department conducted a search at some of the premises/ plants related to the Company and some of its subsidiaries
India's Income Tax Department is conducting searches at Mankind Pharma Ltd's office in New Delhi, a government source told Reuters on Thursday, days after the condom maker's successful public listing
The stellar listing day performance comes even as retail investors gave the Rs 4,326-crore IPO - the largest in more than a year-a miss
Mankind's deal marks the return of mid-to-large-sized debuts in India
CLOSING BELL: Among sectors, the Nifty PSU Bank index fell nearly 3 per cent, followed by the Nifty Realty index (close to 1 per cent)
Shares of Mankind listed at Rs 1,300, a 20 per cent premium over its issue price of Rs 1,080 on the National Stock Exchange (NSE) and the BSE
Stock to Watch on Tuesday, May 9: Canara Bank's net profit rose 90.6 per cent year-on-year (YoY) at Rs 3,175 crore in Q4FY23
The IPO had seen strong demand from institutional investors even as the retail quota had remained undersubscribed
CLOSING BELL: Among sectors, the Nifty Private Bank, Realty, and Auto indices gained around 1.7 per cent each
The Rs 4,326-cr offering garnering bids worth nearly Rs 50,000 cr
Mankind Pharma on Monday allotted shares worth Rs 1,298 crore to 77 anchor investors including 16 domestic mutual funds that participated through 41 schemes