India's Gland Pharma rises on bets of strong growth outlook

Gland Pharma

07/11/2023 05:39

** Shares of Gland Pharma  GLAD.NS  up 5.1% at 1,655.3
rupees 
    ** Stock on track for third consecutive session of gains, if
trends hold
    ** Co reported sharper-than-expected 20% fall in
consolidated net profit
    ** Motilal Oswal ("Buy", TP: 1,920 rupees) says enhancement
in product portfolio promising
    ** Jefferies ("Buy", TP: 1,800 rupees) says contribution
from new Cenexi plants and strong US outlook to drive growth
from FY25 
    ** Kotak ("Sell", TP: 1,365 rupees) says product mix and
higher Enoxaparin contribution expected from Q3
    ** More than 1.1 mln shares change hands by 10:35 a.m. IST,
3.8x its 30-day avg
    ** Mean rating of 16 analysts covering the stock is "buy;"
median PT is 1,570 rupees - LSEG data
    ** Stock up 5% YTD vs a 20% rise in Nifty Pharma index
 .NIPHARM 


 (Reporting by Ashna Teresa Britto in Bengaluru)
 ((AshnaTeresa.Britto@thomsonreuters.com ; ( +91 8078332441))