Ipca Lab hits 52-week high in a range-bound market; stk surges 9% in 3 days

According to Analysts at Phillip Capital, the company's revenues could grow 18 per cent year-on-year (YoY) to Rs 1,272.5 crore in June quarter of FY21

Shares of Ipca Laboratories surged 8 per cent and hit a fresh 52-week high of Rs 1,883.65 on the BSE on Friday in an otherwise range-bound market. With today's gain, the stock has rallied 9 per cent in the past three trading sessions. 

In the June quarter of FY21, insurance companies raised stake in the company from 2.22 per cent stake, held at the end of Q4FY20, to 4.23 per cent. HDFC Life held 2.3 million shares, representing 1.82 per cent stake, while SBI Life held 1.4 million shares, representing 1.1 per cent stake, in the company at the end of