Shares of Gland Pharma rallied 12.23% to Rs 2,989.25 on the BSE during Tuesday’s trading session after the pharmaceutical company reported a strong set of results for the first quarter of FY27, with consolidated profit rising 47% year-on-year and revenue increasing 20%.
The stock, however, faced a cautious view from Elara Securities, which downgraded Gland Pharma to ‘Accumulate’ from ‘Buy’ while raising its target price to Rs 2,956. The brokerage said the downgrade followed a nearly 40% rally in the stock over the past three months, limiting the scope for further upside.
