Emcure Pharma rose 3.5% after JM Financial initiated coverage with a "buy" rating and strong growth outlook.

• JM sees 27.5% upside with FY25–28 PAT CAGR forecast at 29%, led by domestic and export market growth.
• New launches in women’s health, skincare, and the Sanofi tie-up are expected to support revenue momentum.
• Export growth to be driven by complex generics, biosimilars, and ARV demand in global markets.