Rs 20 Dividend: Record Date After Independence Day; Target Potential Rs 2640 & 3000; Buy With A SL of Rs 1900?

Founded in Hyderabad, India, in 1978, Gland Pharma is the world's largest injectable-focused company, operating in 60 countries including the US, Europe, Canada, Australia, India, and other markets. It mostly uses a business-to-business (B2B) business model and has a strong history of developing, manufacturing, and marketing sterile injectables. Vials, ampoules, pre-filled syringes, lyophilised vials, dry powders, infusions, oncology, and ophthalmology solutions are just a few of the many injectables available.

Gland Pharma Dividend

The Board of Directors "Recommended a final dividend of Rs. 20/- (2000%) per equity share of Rs. 1/- each for the financial year 2023-24. The dividend, upon approval by the shareholders, will be paid within 30 days from the date of the 46th Annual General Meeting (AGM). The 46th Annual General Meeting of the members of the Company will be held through video conferencing (VC)/ other audio-visual means (OAVM) on Friday, August 30, 2024. The Record Date for the purpose of the 46th Annual General Meeting and payment of final dividend, if approved by shareholders will be Friday, August 16, 2024," said the company in a regulatory filing.

Gland Pharma Q1 Results Date

"This is to inform you that a meeting of the Board of Directors of Gland Pharma Limited ('the Company') will be held on Tuesday, August 06, 2024 inter alia, to consider and approve the Un-Audited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2024. In continuation to our earlier intimation dated June 28, 2024; this is to inform you that the trading window, which was closed from Saturday, June 29, 2024 in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, as amended; will reopen on Friday, August 09, 2024. The Investor/Analyst call will be held on Tuesday, August 06, 2024 at 18:30 Hrs (IST)," Gland Pharma informed the stock exchanges.

Gland Pharma Share Price Target

Mandar Bhojane - Equity Research Analyst at Choice Broking said, "The current trading price of GLAND is Rs 2127. The stock has recently ready for breakout of cup & handle pattern on the daily chart with a significant increase in trading volume, indicating a potential breakout. If the price manages to close above the Rs 2160 level, it may have the potential to reach short-term targets of Rs 2640 & Rs 3000. On the other hand, immediate support levels are located at Rs 2000. These levels can be considered as opportunities to buy on dips."

"The Relative Strength Index (RSI) currently stands at 69.3 and is trending upward, indicating increasing buying momentum. To prudently manage risk, it is advisable to set a stop-loss (SL) at Rs 1900. This precaution will help protect your investment in case of an unexpected market reversal. In summary, considering the technical analysis and the current market conditions, GLAND appears to present an appealing buying opportunity for those aiming for a Rs 2640 & Rs 3000 price target, provided that appropriate risk management measures are in place," the analyst further added.

Disclaimer

The recommendations made above are by market analysts and are not advised by either the author, nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.