External broker reports(aggregated public sources), Sharekhan

Sharekhan

External broker reports(aggregated public sources)

Sharekhan is India's leading broking house providing services from easy online trading, research to wide array of financial products. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Ipca’s board is set to discuss integration of Bayshore Pharmaceuticals’ generics business into Unichem Pharma US.</li><li>Bayshore’s integration would enhance growth prospects, drive international revenue, on recent regulatory approvals for US manufacturing sites.</li><li>Ipca’s investments in biologics and plans to revitalize its CDMO initiatives suggest significant growth potential, supporting our price target of 1734. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Ipca’s board is set to discuss integration of Bayshore Pharmaceuticals’ generics business into Unichem Pharma US.Bayshore’s integration would enhance growth prospects, drive international revenue, on recent regulatory approvals for US manufacturing sites.Ipca’s investments in biologics and plans to revitalize its CDMO initiatives suggest significant growth potential, supporting our price target of 1734. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Ipca Laboratories Ltd - Bayshore Integration to Unlock Growth

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>In Q1FY25, <a href="https://www.smartkarma.com/entities/cipla-ltd" target="_blank" data-smartkarma-citation="entities:3918:1" rel="noopener">Cipla Ltd (CIPLA IN)</a> posted 7% YoY revenue growth to INR66.9B. Despite surging R&amp;D expenditure, EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%.</li>
<li>Record high quarterly revenue in the U.S. market, double-digit revenue growth in India branded prescription business, and continued strong momentum in South Africa drove overall performance.</li>
<li>Cipla is well-positioned for mid-to-high single-digit revenue growth through FY27. Sitting on a robust cash balance of INR90B, Cipla is eyeing on M&amp;A. Valuation still looks reasonable.</li>
</ul>


In Q1FY25, Cipla Ltd (CIPLA IN) posted 7% YoY revenue growth to INR66.9B. Despite surging R&amp;D expenditure, EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%.
Record high quarterly revenue in the U.S. market, double-digit revenue growth in India branded prescription business, and continued strong momentum in South Africa drove overall performance.
Cipla is well-positioned for mid-to-high single-digit revenue growth through FY27. Sitting on a robust cash balance of INR90B, Cipla is eyeing on M&amp;A. Valuation still looks reasonable.


Cipla (CIPLA IN): Starts FY25 On Firm Note; EBITDA Margin Ahead of Guidance Range

Index Rebal/Special Situations, Quiddity Advisors

Janaghan Jeyakumar, CFA

Index Rebal/Special Situations

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.</li>
<li>At present, 3 changes for the BSE 100 index and 7 changes for the BSE 200 index.</li>
<li>The BSE 100 handling rules for names without futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could get into such a trap.</li>
</ul>


In this insight, we take a look at the Potential ADDs/DELs for the BSE SENSEX, 100, and 200 indices in the December 2024 index rebal event.
At present, 3 changes for the BSE 100 index and 7 changes for the BSE 200 index.
The BSE 100 handling rules for names without futures and options (F&amp;O) sometimes punish companies that have enjoyed good share price rallies and Zomato could get into such a trap.


Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Could Zomato's Share Price Rally Become a Problem?

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Emcure Pharmaceuticals / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/emcure-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:35585:1" rel="noopener">Emcure Pharmaceuticals</a> raised around US$240m in its India IPO. Subscription rates were strong.</li>
<li>Emcure Pharmaceuticals (EP) is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.</li>
<li>We have looked at the company’s past performance in our earlier note. In this note, we talk about the trading dynamics.</li>
</ul>



Emcure Pharmaceuticals raised around US$240m in its India IPO. Subscription rates were strong.
Emcure Pharmaceuticals (EP) is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
We have looked at the company’s past performance in our earlier note. In this note, we talk about the trading dynamics.


Emcure Pharma Pre-IPO Trading - Strong Subscription, Will Pop

<ul>
<li>
<a href="https://www.smartkarma.com/entities/emcure-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:35585:1" rel="noopener">Emcure Pharmaceuticals</a> is looking to raise around US$240m in its upcoming India IPO.</li>
<li>Emcure Pharmaceuticals (EP) is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.</li>
<li>We have looked at the company’s past performance, in our earlier note. In this note, we talk about the RHP updates and take a quick look at valuations.</li>
</ul>



Emcure Pharmaceuticals is looking to raise around US$240m in its upcoming India IPO.
Emcure Pharmaceuticals (EP) is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.
We have looked at the company’s past performance, in our earlier note. In this note, we talk about the RHP updates and take a quick look at valuations.


Emcure Pharmaceuticals Pre-IPO - Refiling Updates and Valuations

India

IPCA Laboratories Limited is an Indian multinational pharmaceutical company that manufactures and markets over 350 finished-dosage formulations and approximately 80 active pharmaceutical ingredients (APIs). The company focuses on therapeutic areas such as pain management, rheumatology, antimalarials, and cardiovascular medicine. It was founded in 1949 and is headquartered in Mumbai, Maharashtra, India.

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IPCA Laboratories (IPCA IN)

Ipca Laboratories Ltd - Bayshore Integration to Unlock Growth

Ipca’s investments in biologics and plans to revitalize its CDMO initiatives suggest significant growth potential, supporting our price target of...

Sharekhan

Cipla (CIPLA IN): Starts FY25 On Firm Note; EBITDA Margin Ahead of Guidance Range

In Q1FY25, Cipla posted 7% YoY revenue growth to INR66.9B. EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%, ahead...

Tina Banerjee

Emcure Pharma Pre-IPO Trading - Strong Subscription, Will Pop

Emcure Pharmaceuticals raised around US$240m in its India IPO. Subscription rates were strong for institutional and HNI tranche.

Sumeet Singh

Emcure Pharmaceuticals Pre-IPO - Refiling Updates and Valuations

Emcure Pharmaceuticals is looking to raise around US$240m in its upcoming India IPO. In this note, we talk about valuations.

Sumeet Singh

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ipca Laboratories Ltd - Bayshore Integration to Unlock Growth

Ipca’s investments in biologics and plans to revitalize its CDMO initiatives suggest significant growth potential, supporting our price target of...

Sharekhan

Cipla (CIPLA IN): Starts FY25 On Firm Note; EBITDA Margin Ahead of Guidance Range

In Q1FY25, Cipla posted 7% YoY revenue growth to INR66.9B. EBITDA increased 26% YoY to INR17.2B, leading to 154bps margin expansion to 25.6%, ahead...

Tina Banerjee

Quiddity Leaderboard BSE/​​​​SENSEX Dec 24: Could Zomato's Share Price Rally Become a Problem?

We see Zomato as a BSE 100 DEL for December 2024 as it currently violates one of the derivative linkage requirements. Zomato's fate will depend on...

Janaghan Jeyakumar, CFA

Emcure Pharma Pre-IPO Trading - Strong Subscription, Will Pop

Emcure Pharmaceuticals raised around US$240m in its India IPO. Subscription rates were strong for institutional and HNI tranche.

Sumeet Singh

Emcure Pharmaceuticals Pre-IPO - Refiling Updates and Valuations

Emcure Pharmaceuticals is looking to raise around US$240m in its upcoming India IPO. In this note, we talk about valuations.

Sumeet Singh

Quiddity Leaderboard BSE/SENSEX Dec 24: Could Zomato's Share Price Rally Become a Problem?