Mankind Pharma is on fire! 🔥 For the fourth consecutive session, shares of the pharma giant have surged, hitting a fresh record high of ₹2,709.95 on September 24, 2024. The stock has gained nearly 12% in just four days, showing off some major bullish vibes. 💪
By 11:48 AM, Mankind Pharma’s shares were trading at ₹2,663.90 on the NSE, and all signs point to more growth ahead. The market excitement is largely driven by Mankind’s big plans to acquire Bharat Serums and Vaccines (BSV), a move that’s set to supercharge its growth prospects 🚀.
Why is Everyone So Hyped?
According to brokerage firm Investec, Mankind Pharma’s solid brand reputation and execution abilities are a perfect match for BSV’s strength in super-specialties. Investec has given the stock a ‘buy’ rating and is super optimistic about its future, thanks to BSV’s expertise in R&D and sourcing. This combo is expected to give Mankind Pharma a competitive edge that could be a game changer in the long run. 🧪💼
Bullish Signals on the Charts 📊
The technical indicators are also screaming bullish! Senior Technical Analyst Pravesh Gour from Swastika Investmart noted that the stock has formed a bullish flag pattern, signaling that the upward momentum could continue. 😎
- The next resistance point is around ₹2,700, with a target of ₹2,800.
- On the downside, the previous breakout levels at ₹2,600 and ₹2,550 will act as support.
Investors are advised to hop on this rocket with a target of ₹2,810 and a stop loss set at ₹2,560 for maximum gains. 🎯
Big Moves with Bharat Serums & Vaccines 🤝
Mankind Pharma’s acquisition of Bharat Serums and Vaccines is more than just a business deal. It’s a power move that positions Mankind to expand deeper into the super-specialty pharma space. BSV’s specialty business, particularly in the research and development sector, is believed to be undervalued by the market, but experts believe this will become a crucial growth engine for Mankind Pharma in the years to come. 🧬✨
With all these bullish indicators and strategic moves, Mankind Pharma is looking like a solid play for investors looking to ride this wave. 🌊 Keep an eye on the stock as it approaches new heights!
TL;DR 📢: Mankind Pharma continues its winning streak, surging nearly 12% in four days. With a record high of ₹2,709.95 and bullish signals on the charts, the stock is riding high on optimism around its acquisition of Bharat Serums and Vaccines. Keep an eye on ₹2,800 as the next target! 📈
Stay tuned for more updates on this hot stock! 🔥