Mankind Pharma share price hits all-time high after FTSE Global inclusion –

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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