Gland Pharma cracks day after company signs pact to buy Europe-based Cenexi
Gland Pharma Share Price NSE: Brokerages have given a mixed response on the stock post announcement of the agreement
Gland Pharma Share Price NSE: Shares of Gland Pharma Ltd, NSE: GLAND, cracked nearly 4 per cent on Wednesday, November 30. The downtrend in stock came on the back of the company's wholly-owned Singapore-based unit Gland Pharma International PTE entering into a 'Put Option Agreement' to acquire 100 per cent of Cenexi Group for an equity value not exceeding EUR 120 million. Cenexi Group is a Hyderabad based drug contract development and manufacturing company.
The counter opened at Rs 1,878 on NSE and cracked more than 4 per cent to quote Rs 1,799.10 at 11:40 AM.
Brokerages have given a mixed response on the stock post announcement of the agreement.
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