Mankind Pharma share price hits all-time high after FTSE Global inclusion
Share price of Mankind Pharma jumped 4.79% to ₹2,012 on Monday’s trading session after the pharma stock was added to the FTSE All-World, Large-Cap, Total-Cap, and All-Cap indices. The stock hit an all-time high at ₹2,032 per share during the intraday session at 11:45 am on November 20.
FTSE, an acronym for the Financial Times Stock Exchange Group, is a British company that specializes in providing global market index offerings.
The Index is a globally diversified market-capitalization-weighted benchmark that reflects the performance of stocks across large, mid, and small-cap categories. It encompasses both developed and emerging markets, making it a suitable foundation for various investment products like funds, derivatives, and exchange-traded funds.
Mankind Pharma shares opened ₹19,60.35 on Monday, against previous close at ₹19,20.10 on Friday last week. The adjustment of the Mankind Pharma stock at FTSE will take place on December 15.
Mankind Pharma’s inclusion in the Large-Cap index is significant, highlighting the company’s standing as a major player in the Indian pharmaceutical industry, backed by a substantial market valuation.
ACC, Kotak Mahindra Bank, Canara Bank, IDBI Bank, YES Bank, Union Bank of India, Indian Hotels, Jindal Steel & Power, Shriram Finance, Trent, and Tube Investments are also part of the FTSE index, apart from Mankind Pharma.
During the second quarter, Mankind Pharma witnessed a robust performance across various segments, leading to a 21% increase in its consolidated net profit to ₹511 crore. The company’s revenue from operations also experienced growth, reaching ₹2,708 crore in the current period compared to ₹2,425 crore in the corresponding period of the previous year.
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Updated: 20 Nov 2023, 04:10 PM IST
