Share Of This Pharma Stock Registers Biggest Intra-Day Loss, Hits Fresh 52-Week Low

Gland Pharma Ltd came into existence in 1978 and over the years grown from a contract manufacturer of small volume liquid parenteral products to emerge one of the biggest and fastest growing generic injectables manufacturing companies.

It has a global footprint across 60 nations that may include United States, Europe, Canada, Australia, India and other markets. The stock has witnessed a steep decline in trade today. It declined by 13.89% to 1915 apiece and with this it also registered biggest intra-day loss in trade today.

The current market price of Gland Pharma is Rs 1915 apiece with 52-week high at Rs 4060 apiece and 52-week low is Rs 1891 apiece, respectively.

It has a market capitalisation of Rs 31,541 crore as of writing the report.

The stock has given a return of 5% in the last 5-years. It has declined 46% in last 1-year, 13% in last 3-months, and 7% in last 1 month.

The stock hit fresh 52-week low in trade today. It opened at Rs 2148 apiece, touched intraday high 2148 apiece and intraday low at Rs 1891 apiece, respectively.

Earlier, Gland Pharma Ltd declared a 20% dip in consolidated net profit at Rs 241.24 crore for the second quarter ended September 30 amid reduced sales and increased expenses.

It had announced a consolidated net profit of Rs 302.08 crore in the same period last fiscal, Gland Pharma said in a regulatory filing.

The consolidated revenue from operations during the period under review were at Rs 1,044.4 crore, as against Rs 1,080.47 crore in the year-ago period, it added.

Total expenses were higher at Rs 785.95 crore, as compared to Rs 731 crore in the same period a year ago, stated the company.