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Gland Pharma shares jumped 5.8 percent in the morning deals, logging an intraday high at ₹1,664.4 per share. The stock advanced after multiple bulk deals.
Around 10:50 AM, Gland Pharma share price was up 3.51 per cent at ₹1,627.95 per share on BSE. In comparison, the BSE Sensex was up 1.03 per cent at 77,695.11. The market capitalisation of the company stood at ₹26,767.15 crore. The 52-week high of the stock was at ₹2,220.95 per share and the 52-week low was at ₹1,412 per share.
According to NSE bulk deal data, Vanguard Emerging Markets Stock Index Fund A Series of VIEIF purchased 0.83 million shares, and Vanguard Total International Stock Index Fund bought 1.01 million shares in Gland Pharma at an average price of ₹1,588.69 per share.
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In Q3, the company's revenue de-grew 10 per cent year-on-year (Y-o-Y) to ₹1,384 crore as compared to ₹1,545.15 crore. The company profit for the period stood at ₹204.692 crore as compared to ₹191.856 crore a year ago.
The company' reported earnings before interest, tax, depreciation and amortisation (Ebitda), on the other hand, grew 1 per cent Y-o-Y to ₹360 crore, and margins stood at 26 per cent, 300 basis points (bps) growth.
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In the base business, the US de-grew 12 per cent YoY to ₹713.5 crore due to a postponement of supplies of blood thinner, Enoxaparin to the next quarter. Rest of world (RoW) reported 6 per cent Y-o-Y growth to ₹167 crore, while the domestic business de-grew 26 per cent Y-o-Y to ₹56 crore.
Established in Hyderabad, India in 1978, Gland Pharma has grown over the years from a contract manufacturer [HK1] of small volume liquid parenteral products, to become one of the largest and fastest growing generic injectables manufacturing companies, with a global footprint across 60 countries, including the US, Europe, Canada, Australia, India and other markets.
The company operates primarily under a business-to-business (B2B) model and does pharmaceutical research and development, manufacturing and marketing of complex injectables. It has a professional management team and one of its promoters, Shanghai Fosun Pharma, is a global pharmaceutical major.
In the past one year, Gland Pharma shares have lost 12 per cent against Sensex's rise of 6 per cent.
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