Heard on the street: Ankur Drugs & Pharma

German fund loads up on Ankur Drugs

Analysts have been pushing Ankur Drugs & Pharma to investors on the premise that the company will benefit from its contract drug manufacturing vertical. The pitch is that the company is likely to bag more drug research and formulation projects from top pharmaceuticals, like Ranbaxy and Cipla. According to brokers, a German fund has been accumulating shares of the company intermittently. The company’s sales touched Rs 1,067 crore as on March 31, 2010. Its net profit was Rs 89 crore in 2009-10 . Shares of Ankur Drugs ended 2% lower at Rs 91.6 on BSE on Tuesday.

(Contributed by Shailesh Menon)