Nomura bumped up its price target on IPCA Labs to Rs 1,750, seeing a 20 percent upside from the previous close.
IPCA Laboratories Q3 earnings: Revenue came in at Rs 2,052.86 crore, up 32 percent from year-ago quarter
IPCA Labs Q2 earnings: Revenue from operations came in at Rs 2,034 crore, up 27 percent from Rs 1,601 crore year-ago quarter, the company said.
IPCA Labs will release its Q2 results on November 10
The pharma sector has had a stellar run this year, so far, which also gives investors more leeway to take partial profits home
Ipca's Ratlam manufacturing unit was previously issued 11 observations by the US FDA, which had prompted expectations among analysts of the unit receiving an Official Action Indicated (OAI) status, the most severe classification.
IPCA Labs Q1 earnings: The pharma company had reported a net profit of Rs 143.06 crore in the year-ago period
Ipca Labs had informed the exchanges last week of receiving a go ahead from the Competition Commission of India for acquiring a majority stake in Unichem Labs.