Global brokerage firm Jefferies upgraded Gland Pharma s stock to buy from underperform with an increased price target of Rs 1,640 from Rs 1,065 earlier. Bernstein also gave an outperform rating on Gland Pharma, saying that the Q1 numbers point towards early signs of revival in base business.
It is on the verge of a longer breakout from its long-term consolidation and poised for a fresh up move. Its higher bottoms on weekly charts protect the downside from current levels and risk-reward is in favour of longs.
Gland Pharma: The selling by Morgan Stanley was seen amid a two-day selloff in shares of Gland Pharma where the scrip has lost one-third of its market value following a disappointing quarterly results. The buyer could not be ascertained.
Gland Pharma shares rose 9.56 per cent to hit a high of Rs 979 on BSE. The stock fell 16.56 per cent to settle at Rs 893.50 on Monday. This was in addition to 20 per cent drop in Gland Pharma shares on Friday.
Stock brokerages namely Axis Securities, B&K Securities, Motilal Oswal and Nuvama Institutional Equities have come out with research reports on select stocks namely Astral, Triveni Turbine, Quess Corp and Gland Pharma. Here s what brokerages said about these counters.