Gland Pharma trades higher on the bourses

Gland Pharma is currently trading at Rs. 1335.25, up by 5.45 points or 0.41% from its previous closing of Rs. 1329.80 on the BSE.

Gland Pharma
Gland Pharma

The scrip opened at Rs. 1320.05 and has touched a high and low of Rs. 1356.75 and Rs. 1320.05 respectively. So far 12180 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 3556.10 on 21-Apr-2022 and a 52 week low of Rs. 1169.75 on 06-Feb-2023.

Last one week high and low of the scrip stood at Rs. 1356.75 and Rs. 1290.05 respectively. The current market cap of the company is Rs. 21979.56 crore.

The promoters holding in the company stood at 57.86%, while Institutions and Non-Institutions held 27.79% and 14.34% respectively.

Gland Pharma is planning to invest Rs 400 crore to create additional capabilities in its existing facility at Genome Valley in Telangana to manufacture biologicals, biosimilar, antibodies and recombinant Insulin.

The expanded facility will have employment generation potential of more than 500 numbers of qualified, skilled and semi-skilled workforce to be recruited, mostly from the nearby places. The company had established their biopharmaceutical facility in February last year at Genome Valley with an investment of Rs 300 crore to manufacture vaccines, biologicals, biosimilar, antibodies and others. The expanded site is envisaged to meet the national and international regulations to be followed in the manufacturing of the biological products as applicable and shall be built under the GMP guidelines applicable for the respective product lines.

Gland Pharma develops, manufactures and markets complex injectables. The company sells its products primarily under a business-to-business model in many countries.

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