Gland Pharma Share Price: Gland Pharma, the pharmaceutical powerhouse, kicked off the trading session on Tuesday with a remarkable surge of over 5.50% on the Bombay Stock Exchange (BSE).
The early morning deals witnessed Gland Pharma shares soaring by 4.90% to reach ₹1,652.05 at around 12:00 pm, marking a bullish start to the day. This uptrend was fueled by the company’s recently reported mixed Q2 numbers and the subsequent increase in target prices by leading brokerages.
In the latest financial quarter, Gland Pharma showcased a blend of results, leaving market analysts intrigued. The company’s sales figures for the second quarter exceeded expectations by 2.6%, primarily bolstered by a substantial rise in contributions from Cenexi and the US markets.
Notably, the surge in sales was complemented by a reduction in overhead expenses, specifically in employee costs and other operational expenditures. This prudent financial management translated into a remarkable 23% jump in EBIDTA and a commendable 19% increase in profits, surpassing the projections made by research analysts.
This robust performance in the second quarter, coupled with optimistic market sentiment, prompted prominent brokerages to revise their target prices upward. Investors responded enthusiastically to this positive development, propelling Gland Pharma shares to new heights early in the trading day.
