Pfizer India shares were up over 5% in trade on August 14 with a significant surge in volumes.Nearly 2.72 lakh shares changed hands by 10:40 am, more than 15 times the last 10-day average, on the first trading day after the multinational drugmaker reported a better-than-expected 27.2% year-on-year rise in net profit to ₹191.7 crore, and 7.1% growth in revenue.
Analysts at ICICI Securities have upgraded the stock to ‘buy’ with a target price of ₹5,900 (about 9.7% higher from hereon) after the latest earnings surprise.
| Period | Change |
| Last 5 days | 7.16% |
| 1 month | -0.28% |
| 6 month | 29.14% |
| Year-to-date | 1.67% |
| 1 year | -6.51% |
The stock is trading at 33.2 times one-year forward earnings, compared to the last two-year average of 29.3 times. Price-to-earnings ratio reflects the premium that investors are willing to pay for every unit of future profits. Higher P/E ratio means a higher valuation for the stock.Track the latest news and analysis from the stock market here.
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