BUZZ-India's Gland Pharma hits more than 2-month high on strong Q3 results

Reuters01-29

** India's Gland Pharma GLAD.NS climbs 8.8% to 1,837.30 rupees, its highest since Nov 14

** Drugmaker reports 28% jump in Q3 profit, supported by strong sales in the key European and U.S. markets

** Q3 Rev from ops rises 22.5% to 16.95 billion Indian rupees ($10.86 million)

** Stock top gainer on pharma index .NIPHARM, which is down 0.3%

** Nomura upgrades stock to "Buy" from "Neutral"; says risk‑reward now appears favorable given recent earnings revisions and the stock’s correction

** Gland is taking the right steps to improve visibility for future growth and expects base business to grow in double‑digits in FY27 and earnings to normalize in FY28E

** Avg rating on GLAD at "Hold"; median PT is 2,054.50 rupees - data compiled by LSEG

($1 = 92.0570 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

((Brijesh.Patel1@thomsonreuters.com; Ph no. +91 9590227221;))

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