Shares of Mankind Pharma surged nearly 6%, reaching an all-time high, after the pharmaceutical company secured a spot in the prestigious FTSE All-World, Large-Cap, Total-Cap, and All-Cap indices.
The adjustment for Mankind Pharma’s stock in the FTSE indices is scheduled for December 15. Alongside Mankind Pharma, eight additional companies were added to the FTSE index during this update cycle, with no removals among Indian companies.
On Monday, Mankind Pharma shares reached an all-time high of Rs 2,035 after climbing 5.9% from the previous closing price on the National Stock Exchange (NSE). The stock closed 4.79% higher at Rs 2,012.
FTSE, or the Financial Times Stock Exchange Group, offers global market indices. The FTSE indices are globally diversified, market-capitalisation-weighted benchmarks reflecting the performance of stocks across large, mid, and small-cap categories, covering both developed and emerging markets. This makes them a suitable foundation for various investment products, including funds, derivatives, and exchange-traded funds.
Mankind Pharma’s inclusion in the Large-Cap index is particularly noteworthy. It emphasises the company’s stature as a major player in the Indian pharmaceutical industry, supported by a substantial market valuation.