#ipcas

IPCA’s Q1 show decent, but stock prices are riding on a wave of over-optimism

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Mumbai: The growth in the domestic pharma market is rubbing off on IPCA Laboratories Ltd. Its stock is up about 86% since January this year as demand for hydroxychloroquine, considered among covid-19 drugs, jumped this year. Comparatively, the Nifty Pharma index is up 48%.

But even while its latest results have impressed the Street, the stock’s recent run-up should make investors wary.…