Gland Pharma's shares were up nearly 8% today after the USFDA issued a zero-observation certificate for its Visakhapatnam facility. Gland Pharma shares rose 7.68 % to a record high of 1393.45, against the previous close of 1294 on BSE. Gland Pharma shares rose by 1342 to close at Rs 1342. On 2 September 2022, the stock reached its 52 week high of 2606 on BSE. On May 22, 2023, the stock fell to its 52-week low of 861.50.
The total amount of shares changed hands, amounting to a turnover of Rs. 5.80 crore on Monday. The firm's market cap rose to 22191 crore on BSE, the company said in a statement.
Gland Pharma's RSI is 73.8, signaling it's trading in the overbought zone. The stock of Gland Pharma has a one-year beta of 0.1, indicating low volatility during the period. Gland Pharma shares have risen to the highest of the 5 day, 10 day, 20 day, 50 day, 100 day, 150 day but lower than the 200 day moving averages.
The US Food and Drug Administration US FDA conducted a good manufacturing practice GMP inspection at the company's VSEZ Sterile Oncology facility in Visakhapatnam between 20 and 28 July. The inspection ended with zero 483 observations and a classification of No action indicated NAI on July 14, the company received one observation after the USFDA conducted a GMP inspection at the Dundigal facility in Hyderabad on July 3 - 14.
On August 7 the board of directors will consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30.
Gland Pharma Limited is a generic injection-focused company. The company is dedicated to complex injectables and is a partner of the sterile injectables, oncology, and ophthalmology industries. The firm provides contract development, own development, dossier preparation, and filing, technology transfer, and manufacturing across a variety of delivery systems.