Gland Pharma share price hits new 52-week high on Q4 results; stock more-than-doubles from IPO price

Gland Pharma shares made a market debut in November 2020, and have been listed at Rs 1,701, as in opposition to the IPO value of Rs 1,500. Picture: Reuters

Gland Pharma share value surged as excessive as 9.6 per cent to a contemporary 52-week excessive of Rs 3,061 apiece in intraday on BSE, after the corporate posted a 34 per cent on-year rise in consolidated internet revenue to Rs 260.4 crore in Jan-Mar quarter of FY21. Gland Pharma shares made a market debut in November 2020 and have been listed at Rs 1,701, as in opposition to the IPO value of Rs 1,500. The inventory has zoomed 80 per cent from the itemizing value, whereas it has greater than doubled from the difficulty value. After a stellar IPO, sturdy sectoral shopping for in pharma with regular This fall outcomes have led to Gland pharma crossing Rs 3,000 to an all-time excessive. “Technically, every day closing above 3055 ought to result in the next goal of 3300 within the coming days. 2750 stays sturdy assist,” AR Ramachandran, Co-founder & Coach, Tips2Trades, instructed Monetary Specific On-line.

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For the monetary yr 2020-21, Gland Pharma witnessed income progress of 32 per cent and internet revenue progress of 29 per cent as in comparison with the earlier yr. The corporate continued to take care of a wholesome margin profile with EBITDA margin at 40 per cent and PAT margin at 28 per cent. “Our new vaccine enterprise is anticipated to speed up our long-term technique of coming into into biosimilar area,” mentioned Srinivas Sadu, MD & CEO of Gland Pharma. Within the home markets, the corporate has ramped up Remdesivir provide and maintained a ample provide of Enoxaparin to assist the requirement of COVID sufferers.

To this point in intraday, round 21,000 shares have traded on BSE, whereas a complete of 6.12 lakh shares have exchanged fingers on NSE. Analysts at Motilal Oswal Financial Services have given a ‘purchase’ ranking to the inventory, with a goal value of Rs 3,280, a rally of 17.4 per cent from the final shut. Analysts stay optimistic on Gland Pharma inventory on the again of area of interest pipeline, enhanced choices/including newer geographies within the RoW phase, working price effectivity, constant compliance, and sufficient conflict chest to faucet inorganic alternatives.

(The inventory suggestions on this story are by the respective analysis and brokerage agency. Monetary Specific On-line doesn’t bear any accountability for his or her funding recommendation. Please seek the advice of your funding advisor earlier than investing.)