Mankind Pharma draws rush of buy calls on 57% jump since IPO

June 20, 2023

Investors are scrambling to purchase shares in drug and condom maker, Mankind Pharma Ltd., which has had the most analyst coverage of any new Indian stock in 12 years after its highly successful May IPO. The shares have surged by 57% since being listed, driving its market value above $8bn. The firm has attracted nine buy ratings and one hold. While the majority of analysts recommend buying shares, the consensus price target is already 10% below the current value due to its stellar run.

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