Piramal Pharma shares jump over 7% to hit 18-month high, gain 32% in 7 weeks

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Piramal Pharma shares jumped 7.35% in today's trading session to a new 52-week high of ₹153.90 apiece, and this was also the stock's highest level in 18 months. They finished the last six out of seven weeks in green, gaining 32% as investors cheered to multiple positive developments. However, despite this recent uptrend, the stock has yet to surpass its IPO price of ₹200, which it hasn't achieved since its listing in October 2022.

At the current market price, it remains 24% below the issue price. Also Read: Netweb Technologies advanced 147% in just 6 months, up 270% from IPO price After its listing, the stock experienced selling pressure for seven consecutive months until March 2023, before gaining momentum in the subsequent month. Over the past 14 months, the stock has surged by 127.4%, steadily appreciating from ₹66.85 apiece to its current level of 152.

Piramal Pharma Limited (PPL) is part of the Piramal Group of Companies, which demerged from Piramal Enterprises. The company offers a portfolio of differentiated products and services through its 17 global development and manufacturing facilities and a global distribution network in over 100 countries. Also Read: Stock to buy: Anand Rathi recommends Patel Engineering as its pick for the month It operates through three major segments: contract development and manufacturing organisations (CDMO), Complex hospital generics (critical care), and consumer healthcare (OTC).