Gland Pharma made a vigorous debut today that is November 20, rising 23.3% despite Volatile market Conditions.
Opening price and up 18.9% from the issue price of 1500, with volumes of 94.11 lakh equity shares.
Experts have a positive long-term view on the stock, given the company’s strong financials and hold in the injectable business.
Advises holding the stock for the long term anticipating strong returns in the coming years.
The company has a track record of growth & profitability from a diversified revenue base with healthy cash flow. Hence Fundamentals of the company look strong.
If there is interest in short term investment then for sure Gland pharma IPOs are welcoming to short term investors and those who had subscribed to the issue for listing gains to book profits.
For the first time in Hyderabad in 1978, Gland Pharma has come into the market by its growth over the years from a contract manufacturer of small volume liquid parental products to emerge as one of the largest & fastest growing injectable focused companies.
It had a footprint across 60 countries including the United States, Canada, Australia, India, and Europe.
Gland Pharma is one of the fastest-growing injectable companies in the US, which accounted for 67% of the company’s revenue in FY20. It exports 82% of its revenue.
Those looking to buy the stocks can do if it's available at around Rs.1,570-1,580 level.
