Bullish Signals For Piramal Pharma: SEBI Analyst Flags Technical Breakout, Sees Over 10% Upside By October

Technical charts and retail sentiment now indicate bullish momentum.

Piramal Pharma (PPL Pharma) shares surged 8% on Wednesday on the back of a positive brokerage note. JM Financial raised its earnings per share estimates for FY27 and FY28, assigning a 'Buy' rating to the stock and a revised target price of ₹313. 

The company’s contract development and manufacturing organisation arm, Piramal Pharma Solutions (PPS), recently announced a multimillion-dollar investment in collaboration with NewAmsterdam Pharma. The project is estimated to bring $50-100 million in annual revenue for the first three years, providing a robust boost to the company’s financial health.

According to JM Financial, the new suite enhances Piramal’s global Oral Solid Dosage (OSD) capabilities and reinforces its long-term growth visibility. They have hiked the EBITDA forecasts by 4% and 7% for FY27 and FY28.

Technical Outlook

SEBI-registered analyst Sameer Pande noted that on the monthly charts, PPL Pharma stock had taken support around the ₹170-₹180 levels and was showing positive reversal signs on the supertrend. The stock has also crossed the 20-day Exponential Moving Average (EMA). 

On its daily charts, PPL Pharma stock was showing a breakout on the supertrend, as well as a breakout on the 20-day EMA. Additionally, its Relative Strength Index (RSI) rose from 40 to 58 in a day, supporting the bullish sentiment. 

Pande recommended buying PPL Pharma with a stop loss at ₹180 on a closing basis, and a target price of ₹229 to be achieved by the end of October.

What Is The Retail Mood?

Data on Stocktwits shows that retail sentiment turned from ‘neutral’ to ‘bullish’ a day ago on this counter.

PPL Pharma shares have declined 24% year-to-date (YTD). 

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