The drugmaker reported a 72 per cent YoY drop in net profit to Rs 79 crore in Q4FY23 due to a production shutdown at one of its facilities in Telangana and soft demand.
Gland Pharma share price: The counter's 14-day relative strength index (RSI) came at 70.61. A level below 30 is defined as oversold while a value above 70 is considered overbought. The company's stock has a price-to-equity (P/E) ratio of 20.64. It has a price-to-book (P/B) value of 2.65.
Kotak said the near-term outlook for Gland Pharma is sluggish but the product pipeline and entry into new markets provide medium-term growth visibility.