Tuesday, July 23, 2024

Shark tank fame Namita Thapar shares an emotional Mirza Ghalib shayari post Emcure IPO’s robust listing

Thursday, July 11, 2024, 14:00
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Shark Tank fame Namita Thapar took to social media to share an emotional note following the listing of Emcure Pharmaceuticals. Thapar is a part of the promoter group and executive director at the company, which received robust response for its IPO.”Emotional morning today. we got listed at NSE. 68 times oversubscribed, listed at 31% price premium but my Mirza Ghalib shayari sums up my feelings… congratulations Team Emcure,” said Thapar.The strong listing was mainly in line with expectations, given the long- term potential of the company. Analysts advised investors to hold the position for healthy returns in the future.”The strong investor response and listing gain demonstrate confidence in the company’s future potential. However, the identified risks within the pharmaceutical industry necessitate ongoing monitoring by investors. Investors may hold their positions by keeping a stop loss at 1200,” said Shivani Nyati, Head of Wealth, Swastika Investmart.Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.The research and development driven company with a differentiated product portfolio that includes orals, injectables and biotherapeutics with target markets across over 70 countries including a presence in India, Europe and Canada.The company proposes to use the net proceeds from the fresh issue to be used towards the payment of debt and for general corporate purposes.The global pharmaceutical market is expected to sustain growth at a compound annual growth rate of approximately 5.0% to 5.5% between the calendar years 2023 and 2028, to reach approximately $1,900 billion (approximately Rs 157 lakh crore) to $1,950 billion (about Rs 161 trillion) in the calendar year 2028.In FY24, the company’s revenue from operations grew 11% year-on-year to Rs 6,658 crore from Rs 5,985 crore in the preceding financial year. Meanwhile, profit after tax declined 6% year-on-year to Rs 527 crore from Rs 562 crore a year earlier.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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