Zydus Lifesciences shares drop 3% after Q1 earnings. Here's why Nuvama upgraded rating, hiked target

SynopsisShares of Zydus Lifesciences saw a decline of more than two percent following the announcement of a notable profit drop. The net profit plunged thirty-six percent year-on-year for the first quarter, despite a nearly twenty-two percent increase in operational revenue. Expenses surged by over forty-one percent. However, the managing director remains optimistic about future prospects. Analysts at Nuvama have upgraded the stock to 'Buy', setting a higher price target.