Last Updated on September 27, 2023 by BFSLTeam BFSLTeam
Gland Pharma’s shares just witnessed a thrilling 20 percent jump and hit an upper circuit at Rs 1,611.05 during early trade on August 8. What caused this jump? Well, smart financial experts are predicting a strong comeback for the company’s core business in the upcoming quarters, right after they analyzed the April-June earnings report.
In the, Gland Pe quarterly results, Gland Pharma showed an impressive 41 percent surge in revenue for the April-June quarter. The financial gurus interpret this increase as an early signal that the company’s core business is getting back on track.
However, there’s a bit of a twist. Despite the good news, some challenges persist. Sizeable expenses related to depreciation and finance, along with not-so-great operating margins, pulled down the company’s profits by 15.3 percent compared to the previous year, landing at Rs 194.1 crore for the quarter.
But wait, there’s more! As of 10:16 AM, the company’s shares were being traded on the NSE at Rs 1,611.05, marking a whopping 20 percent surge from the previous day’s closing price. Now that’s what you call a stock market roller-coaster!
The bullish momentum in shares of India’s healthcare companies gathered steam with the Nifty Pharma hitting an all-time high on Monday with a surge of 1.16%.
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