BOM:543904

Mankind Pharma Arm Acquires Remaining 10% Stake in Upakarma Ayurveda

Mankind Lifesciences, a wholly-owned subsidiary of Mankind Pharma (NSE:MANKIND, BOM:543904), has acquired the remaining 10% stake it did not already own in Upakarma Ayurveda for 7.50 million Indian rupees, according to a Tuesday filing to the Indian stock exchanges.Mankind Lifesciences already held 90% stake in Upakarma Ayurveda, and has acquired the remaining 10% stake of Upakarma from Kaushcorp Media.Following the acquisition, Upakarma has become a wholly-owned subsidiary of Mankind Lifesciences and a step-down subsidiary of the company.Upakarma sells ayurvedic, herbal, and nutraceutical products.

Jefferies Adjusts Mankind Pharma's Price Target to INR3,000 from INR2,900, Keeps at Buy

Mankind Pharma's Consolidated Profit Rises in Fiscal Q4; Shares Up 3%

Mankind Pharma (NSE:MANKIND, BOM:543904) consolidated profit attributable to equity holders climbed to 5.54 billion Indian rupees in the fiscal fourth quarter from 4.21 billion rupees a year ago, according to an Indian bourse filing on Tuesday.Shares of the company rose 3% in Wednesday's trade.Earnings per share for the quarter ended March 31 increased to 13.41 rupees from 10.18 rupees a year earlier, the filing said.The pharmaceutical company's revenue from operations in fiscal Q4 rose year on year to 34.4 billion rupees from 30.8 billion rupees.

CARE Ratings Assigns AA+ Rating to Mankind Pharma's Bank Facilities; Shares Up 3%

CARE Ratings assigned AA+ rating to Mankind Pharma's (NSE:MANKIND, BOM:543904) long-term bank facilities and A1+ rating to the short-term bank facilities of the pharmaceutical company, according to an Indian bourse filing on Wednesday.Shares of the company rose nearly 3% in Thursday's trade.The rating outlook is stable.