Buzzing StocksPiramal Pharma Shares Hit 52-Week High After Q3 Operating Profit Leaps Threefold
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Piramal Pharma Shares Hit 52-Week High After Q3 Operating Profit Leaps Threefold
The growth in Ebitda was driven by a decline in raw material and energy prices as well as cost optimisation, according to an exchange filing on Tuesday.
Shares of Piramal Pharma Ltd. surged over 7% to the highest in over a year on Wednesday after its operating profit jumped threefold in the third quarter.
The growth in Ebitda was driven by a decline in raw material and energy prices as well as cost optimisation, according to an exchange filing on Tuesday.
Net profit of Rs 10.1 crore vs loss of Rs 90.2 crore.
On the NSE, Piramal's stock rose as much as 7.19% during the day to Rs 149 apiece, the highest since Nov. 10, 2022. It was trading 3.53% lower at Rs 143.90 apiece, compared to a 0.53% advance in the benchmark Nifty 50 at 10:39 a.m.
The stock has risen 40.40% in the last 12 months. The total traded volume so far in the day stood at 4.1 times its 30-day average. The relative strength index was at 60.63.
Seven analysts tracking the company have a 'buy' rating on the stock, according to Bloomberg data. The average of 12-month analyst price targets implies a potential upside of 4.5%.