Archive · 8 Oct 2026
InCred Sees Upside in Three Pharma Stocks Ahead of Q2 Results
InCred Equities has shared its outlook for pharmaceutical companies before their second-quarter results.
It expects several companies, including Acutaas Chemicals, Mankind Pharma and Ipca Laboratories, to perform well.
The brokerage gave these three stocks “Add” ratings and set target prices for them.
Its targets suggest the biggest potential gain is for Acutaas, based on the closing prices cited in the article.
InCred points to different possible strengths at each company, such as new business growth or stronger exports.
It also says high shipping costs could hurt companies’ profit margins.
The article says some other drug companies may face pressure.
These are brokerage expectations, not guaranteed results.
InCred Equities expects Sun Pharma, Ajanta Pharma, Ipca Laboratories, Mankind Pharma and Acutaas Chemicals to be among stronger Q2FY27 performers.
The brokerage rates Acutaas Chemicals, Mankind Pharma and Ipca Laboratories “Add,” with respective targets of ₹4,757, ₹2,945 and ₹2,044.
Based on the article’s October 7 closing prices, the stocks’ stated potential upsides are 49.90%, 18% and 5.44%, respectively.
InCred cites Acutaas’s CDMO pipeline, Mankind’s possible acute-therapy recovery, and Ipca’s export growth and operating leverage.
The brokerage flags persistent high freight costs as a margin concern and expects some pressure at several other pharmaceutical companies.
- Who
- InCred Equities and the pharmaceutical companies discussed, including Acutaas Chemicals, Mankind Pharma and Ipca Laboratories.
- What
- InCred issued a Q2FY27 sector outlook and gave “Add” ratings and target prices for three stocks.
- When
- Ahead of the second quarter of FY2026-27; the article cites October 7 closing prices.
- Where
- India; the cited stock prices are from the BSE.
- Why
- InCred expects company-specific growth drivers and rupee depreciation to support results, while warning that high freight costs may pressure margins.
Potential support
Risks and pressure
Q2FY27 outlook
Potential support
InCred expects pharmaceutical companies to fare better, naming Sun Pharma, Ajanta Pharma, Ipca Laboratories, Mankind Pharma and Acutaas Chemicals as likely stronger performers.
Risks and pressure
The brokerage says Dr Reddy’s Laboratories, Divi’s Laboratories, Lupin, Cipla, Torrent Pharma and Blue Jet Healthcare may face pressure.
Growth drivers and margins
Potential support
InCred points to Acutaas’s CDMO pipeline, Mankind’s potential acute-therapy recovery, and Ipca’s export growth and operating leverage.
Risks and pressure
High freight and input costs remain margin concerns; Mankind’s higher effective tax rate may also keep profit-after-tax growth below EBITDA growth through FY27F.
- Brokerage
- InCred Equities
- Period covered
- Second quarter of FY2026-27 (Q2FY27)
- Acutaas rating and target
- Add; ₹4,757 per share
- Mankind rating and target
- Add; ₹2,945 per share
- Ipca rating and target
- Add; ₹2,044 per share
- Stated potential upside
- Acutaas 49.90%; Mankind 18%; Ipca 5.44%, calculated against October 7 closing prices cited in the article
- Margin watch
- High freight costs and input costs