Gland Pharma shares gained over 11 per cent in the morning deals on Thursday (May 23) after global brokerages revised their stance on the stock. The stock touched the day's high at Rs 1999.35 apiece. The revision came soon after the company reported its Q4FY24 numbers, on Wednesday after market hours. 

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At around 9:24 a.m., shares of Gland Pharma were up 5.79 per cent or Rs 103.9 at Rs 1,899.4 apiece. The market capitalisation of the company at around the same time stood at Rs 31,285.12 crore.

Brokerage view on Gland Pharma

Jefferies maintained a 'buy' and reduced target to Rs 2,240 from Rs 2,400 apiece.

Meanwhile, Nomura continued with a 'neutral' rating on Gland Pharma and gave a target of Rs 1,570 apiece. 

Anil Singhvi's view 

Zee Business Managing Editor Anil Singhvi has recommended buying stock for targets of Rs 1,950, Rs 2,000, Rs 2,075, and Rs 2,115, keeping the stop loss at Rs 1,770 apiece. 

As per Singhvi, Q4 results were strong on all parameters. The stock fell over 8 per cent in the last three months. Further, Singhvi believes stock can have a run up 10 to 20 per cent in trade. 

How did Gland Pharma fare in Q4?

Gland Pharma on Wednesday reported an over 143 per cent increase in its consolidated net profit to Rs 192 crore in the March quarter against Rs 79 crore in the quarter that ended on March 31, 2023.

Its revenue increased 96 per cent to Rs 1,537 crore against Rs 7,85 crore year-on-year (YoY). The pharmaceutical company's earnings before interest, tax, depreciation, and amortisation (EBITDA) stood at Rs 359 crore against Rs 169 crore, up 112 per cent. Meanwhile, the margins stood at 23.4 per cent against 21.53 per cent. 

Gland Pharma dividend 

The board has recommended a final dividend at the rate of Rs 20/- (2000 per cent) per equity share of Rs 1/- each for the financial year 2023-24. The dividend, upon approval by the shareholders, will be paid within 30 days from the date of the 46th Annual General Meeting (AGM).

Gland Pharm share price: Past performance 

In a year, shares of Gland Pharma have given returns of over 90 per cent against Nifty50's rise of over 23 per cent.

May 23 session on Dalal Street here. For all other news related to business, politics, tech and auto, visit Zeebiz.com. 

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