India's Gland Pharma surges 20% on quarterly revenue jump

Gland Pharma

08/08/2023 06:28

** Shares of Gland Pharma  GLAD.NS  soar as much as 20% to
1611.05 rupees, their sharpest intraday pct climb since Nov 23,
2020
    ** Co posts highest level since Dec 30, 2022 as Q1 revenue
jumped 41%, aided by acquisition of French pharma group Cenexi 
    ** Co shares trading above 50-day and 100-day simple moving
averages, indicating bullish momentum 
    ** More than 5.6 mln shares change hands, 6.6 times the
30-day avg 
    ** Co sees busiest day since May 23 
    ** Mean recommendation of 17 analysts is "hold", median TP
is 1310 rupees - Refinitiv data 
    ** Including session's gains, Gland Pharma stock up 2% so
far 
    

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))