Pharma Sector

According to sources, the floor price would be ₹5,616 per share, which is 3% lower than the current market price (CMP).

Drug company Jubilant Pharmova Ltd will acquire an 80% stake in Pierre Fabre Laboratories' Research & Development Centre in Saint Julien, France.

EBITDA increased by 10.2% to ₹391.1 Crore in the first quarter of this fiscal year, up from ₹355 Crore the previous year.

According to a stock exchange filing, the Company has received an Establishment Inspection Report (EIR) with Voluntary Action Indicated.

The company's first-quarter earnings before interest, taxes, depreciation, and amortisation (EBITDA) were ₹622 Crore.

The EBITDA margin was 17.95% in the reporting quarter, compared to 18.2% in the same time the previous fiscal year.

In May, Mankind's board approved an equity fund raising of ₹7,500 Crore and raised borrowing restrictions to ₹12,500 Crore.

The company announced that its India business grew by 10% year on year in the June quarter, with sales rising to ₹1,635 Crore from ₹1,426 Crore in Q1 FY24.

Following this development, company’s counter slipped nearly 3% to an intraday low of ₹1,150.05 per piece on NSE.

The record date for the share buyback has been set as July 30, 2024. Promoters will also participate in the share buyback.