IPCA Lab surges as Morgan Stanley upgrades stock rating - The New Indian Express

IPCA Lab surges as Morgan Stanley upgrades stock rating

Published: 21st March 2014 01:19 PM

Last Updated: 21st March 2014 01:19 PM

IPCA Laboratories, a Mumbai-based drugmaker, surged on Friday after global research firm, Morgan Stanley initiates coverage on the stock with a 'buy' rating and a target price of Rs 1,101. Shares of the company are trading at Rs 867, up Rs 39.05, or 4.72% at the Bombay Stock Exchange (BSE) on Friday at 12:15 p.m.The scrip has touched an intra-day high of Rs 874 and low of Rs 839.70. The total volume of shares traded at the BSE is 22,445.In the earlier session, the shares climbed 0.29%, or Rs 2.40, at Rs 827.95. Currently, the stock is trading down 4.4% from its 52-week high of Rs 906.90 and above 76.22% over the 52-week low of Rs 492.

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