Mankind Pharma shares surged over 9 percent on Tuesday, extending gains for the second consecutive session after the pharmaceutical company's strong Q2 FY27 earnings. Brokerages offered divergent views on the stock, with Kotak Institutional Equities maintaining a bullish outlook, while Bernstein and Macquarie remained cautious over valuations and the uneven recovery in consumer healthcare.
Mankind Pharma stock climbed 9.3 percent to Rs 2,527 in afternoon trade, ranking among the top gainers on the BSE 500 and NSE 500 indices. The stock had gained 4.5 percent in the previous session following the earnings announcement.
The stock has risen 16.7 percent so far in 2026, outperforming the Nifty 50, which has declined 13.2 percent during the same period. Mankind Pharma's market capitalisation stood at approximately Rs 1.04 lakh crore. The rally also coincided with broader strength in pharmaceutical stocks, with the Nifty Pharma index advancing 1.7 percent.
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Kotak Institutional Equities maintained its 'Buy' rating on Mankind Pharma with a target price of Rs 3,035, implying approximately 31 percent upside from Monday's closing price. Kotak expects Mankind Pharma to outperform the Indian pharmaceutical market (IPM) by 1.1-1.2 times over the next two quarters, supported by improving volumes. However, it flagged the over-the-counter (OTC) business as a key concern, with growth yet to recover.