India's Gland Pharma down in heavy trade on block deals

Gland Pharma

09/04/2024 05:40

** Gland Pharma  GLAD.NS  fall 6.7% to 1,735.05 rupees; top
loser on Nifty pharma index  .NIPHARM  which is up 0.2%
    ** Over 9.7 mln shares change hands in 15 block deals as of
9:33 a.m. IST in price range of 1,743.95-1,761.30 rupees/shr -
LSEG
    ** Local media reports say Nicomac Machinery, RP Advisory
Services likely to sell 4.4% stake in co via block deal
    ** More than 11.4 mln shares trade in most active session
since early Aug - LSEG
    ** Stock last down 5.2%, on track for worst day since
late-May 2023
    ** Stock among ten stocks in 20-member pharma index with avg
rating of 'buy'; GLAD's median PT is 1,770 rupees - LSEG
    ** Stock declined 8.4% YTD, compared to pharma index's 14.3%
climb

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))