Top Nifty gainers included Reliance Industries, UPL, and ITC, while losers included Apollo Hospitals, Eicher Motors, and SBI Life Insurance.
Metropolis Healthcare On Morgan Stanley
Equal-weight rating; objective reduced to Rs. 1,350 per share; major lab and collection centre expansion under way; gradual transformation of the city into a Pan-India player; longer-term growth visibility provided by the expansion of the labs; continued emphasis on specialised tests
On the BSE, Metropolis Healthcare's quote was at Rs 1,328.75, up Rs 16.45 or 1.25 percent.
Glenmark Pharma: Nomura's Perspective
All segments outperformed expectations, and the target price was raised to Rs 633 per share. Cash flow is still an issue, preventing an increase in valuation multiples. - The management anticipates mid-single digit US sales growth in FY24 and brand divestments in India to sharpen focus on key brands. For FY23, management anticipates that revenue growth and the EBITDA margin guideline would be maintained.
Glenmark Pharma was up Rs 6.95, or 1.64 percent, to Rs 429.75.
Jeffreys on Thermax
Buy rating; target price of Rs 2,520 per share; Q3 EBITDA In line with expectations as margin surprised with the execution pick-up -Management noted margin traction will continue as lower commodity price impact manifests - Base orders are increasing, but larger orders won't start to increase for several quarters because refining and FGD have stalled.
Thermax was trading at Rs 2,141.35, up Rs 1.65 or 0.08 percent.
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