February 23, 2018 / 4:55 AM / 8 months ago

BUZZ-India's Merck jumps on strong quarterly results

** Shares of pharma co Merck Ltd climb as much as 5.1 pct to 1,520 rupees

** Stock posts biggest intraday pct gain since Feb 12

** IDBI Capital raises rating to “accumulate” from “hold”; revises TP to 1,613 rupees

** Merck reported 40 pct jump in Dec-qtr profit on Thursday

** IDBI Capital says qtrly revenue in line with its estimates

** Says key upside risks include higher-than-expected domestic sales growth on the back of price hikes and new product launches and pick-up in injectable space which is a high-margin segment

** Up to Thursday’s close, stock had risen 32 pct in 12 months

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