Shares of Mankind Pharma Limited surged close to four percent to touch an all-time high of Rs 1,998 after the pharmaceutical company was added to the FTSE All-World, Large-Cap, Total-Cap, and All-Cap indices, marking a significant recognition for the Indian company.
The Index is a market-capitalisation-weighted index representing the performance of large, mid and small-cap stocks globally. The index covers developed and emerging markets and is suitable as the basis for investment products, such as funds, derivatives and exchange-traded funds.
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The entry of Mankind Pharma into the Large-Cap index is noteworthy as it underscores the company's position as one of India's leading pharmaceutical players with a significant market valuation.
Also read: A small step for pharma, a giant leap for Mankind
Apart from Mankind, eight more companies have been added to the index, and no Indian company was removed during this update cycle.
In the second quarter, Mankind Pharma's consolidated net profit increased by 21 percent to Rs 511 crore on the back of robust performance across segments.
Its revenue from operations rose to Rs 2,708 crore in the period under review from Rs 2,425 crore in the year-ago period.
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