On Monday’s trading session, the share price of Mankind Pharma surged by 4.79%, reaching ₹2,012, propelled by the pharmaceutical company’s inclusion in the FTSE All-World, Large-Cap, Total-Cap, and All-Cap indices. Notably, the stock achieved an all-time high at ₹2,032 per share during the intraday session at 11:45 am on November 20.
FTSE, which stands for the Financial Times Stock Exchange Group, is a renowned British company specializing in providing global market index offerings. The FTSE Index is a comprehensive, globally diversified, market-capitalization-weighted benchmark reflecting stock performance across large, mid, and small-cap categories. It encompasses both developed and emerging markets, serving as a foundation for various investment products such as funds, derivatives, and exchange-traded funds.
Mankind Pharma shares opened at ₹1,960.35 on Monday, compared to the previous close at ₹1,920.10 on Friday. The adjustment for Mankind Pharma’s inclusion in the FTSE index is scheduled for December 15.
The significant inclusion of Mankind Pharma in the Large-Cap index underscores the company’s prominent position in the Indian pharmaceutical industry, supported by a substantial market valuation. Other companies, including ACC, Kotak Mahindra Bank, Canara Bank, IDBI Bank, YES Bank, Union Bank of India, Indian Hotels, Jindal Steel & Power, Shriram Finance, Trent, and Tube Investments, are also part of the FTSE index alongside Mankind Pharma.
In the second quarter, Mankind Pharma reported robust performance across various segments, resulting in a 21% increase in consolidated net profit to ₹511 crore. The company’s revenue from operations also demonstrated growth, reaching ₹2,708 crore in the current period compared to ₹2,425 crore in the corresponding period of the previous year.