India's Gland Pharma rises after upbeat profit as analysts cheer on new products, contracts
BUZZ-India's Gland Pharma rises after upbeat profit as analysts cheer on new products, contracts ** Shares of pharmaceutical company Gland Pharma GLAD.NS up 6.72% at 2,816.80 rupees; their highest level since June 8, 2022
** Stock records biggest pct jump since May 18, 2026
** Q1 consolidated net profit of 3.17 billion rupees ($33.26 million) above average analysts' estimate of 2.89 billion rupees - data compiled by LSEG
** Revenue up 19.5% to 18 billion rupees
** "Believe many key challenges for Gland are behind it, with Cenexi breakeven, new contract wins, expansion into complex products"--Jefferies
** Core-business momentum, margin recovery remain encouraging along with opportunities in CDMO, GLP-1, complex injectables, ready-to-use portfolio--Ambit Capital ("sell", raises TP to 1,940 rupees from 1,630 rupees)
** However, Ambit notes the back-ended nature and execution risks of opportunities "keep us conservative on near-term contribution"
** YTD, shares up 65.25%
($1 = 95.3000 Indian rupees)
(Reporting by Saikeerthi in Bengaluru)
((Saikeerthi@thomsonreuters.com; (+91) 8296756080))
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