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incred equities lowers nifty target upgrades pharmaceutical sector outlook

InCred Equities has revised its Nifty target down by 3% to 25,327 points, citing a challenging macroeconomic environment and delayed RBI rate cuts. The brokerage upgraded the pharmaceutical sector to "overweight," highlighting positive revisions for stocks like Cipla and Alkem Laboratories, while sectors such as commodities and FMCG faced downgrades. Despite an 8% decline in the Nifty-50 index since mid-September, improved consumer sentiment during the festive season is expected to boost retail demand.

Ipca Laboratories upgraded to accumulate with target price of Rs 1700

Ipca Laboratories reported a Q2 EBITDA of Rs 4.5 billion, falling 5% short of estimates, yet management upheld a 9% revenue growth forecast while raising margin guidance for FY25 by 100 bps. The stock is now rated as ACCUMULATE with a target price of Rs 1,700, reflecting a 27% EPS CAGR over FY24-27E.

Ipca Laboratories reports strong quarterly growth and positive market outlook

Ipca Laboratories reported quarterly revenues of Rs. 2,355 crore, a 16% year-on-year increase, with a profit after tax of Rs. 245 crore, up 39%. The company’s EBITDA rose to Rs. 441 crore, reflecting a 22% growth. Strategic investments and regulatory approvals are expected to drive future growth, with a target price of Rs. 1765.

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