Emcure Pharma jumps 3% to fresh 52-week high amid weight-loss injection boost: Analyst says buy on dips

Emcure Pharma share price

• Emcure Pharma hit a record high before closing lower at Rs 1,522 on January 7
• Analyst predicts support at Rs 1,500, potential rise to Rs 1,580–1,620.
• Stock has gained 12 percent in five days and 22 percent in six months

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The shares of Emcure Pharmaceuticals jumped nearly 3 percent to hit a fresh record high on January 7, before erasing all gains to close in the red. An analyst has suggested which key levels investors should watch out for.

The shares of the Shark Tank's Namita Thapar-backed company rose to fresh 52-week high of Rs 1,568.30 apiece today, before paring gains and ending the session marginally lower at Rs 1,522 apiece.

The stock has risen more than 12 percent in the past five days, and over 22 percent in the past six months. The stock gained 7 percent in the past one year.

Weight-loss injection launch:

The recent surge in the stock price comes on weight-loss injection boost. Earlier in November, Emcure announced that it has become the first Indian company with exclusive rights to distribute and commercialise Poviztra, semaglutide injection 2.4 mg, for weight loss in India. This comes as it entered into a strategic partnership with Novo Nordisk India.

Later in December, Emcure announced the commercial launch of the weight-loss injection.

'Strong bullish breakout from consolidation phase'

Emcure Pharmaceuticals has witnessed a strong bullish breakout from its consolidation phase, supported by a clear surge in volumes, indicating fresh buying interest and improving market participation, said Drumil Vithlani, Technical Research Analyst at Bonanza.

He added that the stock is now comfortably trading above all key moving averages, reflecting a positive shift in trend and strength after decisively breaching the earlier resistance zone of Rs 1,500. According to the analyst, this will likely act as the immediate support in case of any pullback from the recent rise.

'Outlook remains positive':

“Momentum indicators remain supportive, with RSI hovering in the bullish zone without showing signs of exhaustion. Overall, the outlook remains positive, and the stock is well placed for a buy-on-dips approach near the ₹1,480– 1,500 zone, with near-term upside potential towards ₹1,580–1,620, while the broader trend stays intact as long as prices hold above ₹1,450,” Vithlani said.

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