Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the week in red, as <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> closed at 79,032.73 points, down by 0.27%, while <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> closed at 24,010.60 points, down by 0.14%. As for sectoral indices, <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">pharma</keyword> and <keyword id="20051327" type="General" weightage="20" keywordseo="oil-and-gas" source="keywords">oil and gas</keyword> took the lead, rallying by 1.11% and 1.64%, respectively, during the day. Nifty bank, financial services, and media closed the day in red, while Nifty private banks lost as much as 1.24% today. <keyword id="22216266" type="General" weightage="20" keywordseo="Dr-Reddy" source="keywords">Dr. Reddy</keyword> (up by 2.63%), <keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords">ONGC</keyword> (up by 2.56%), <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> (up by 2.18%), SBI Life (up by 1.88%) and Hero Moto Corp (up by 1.91%) remained the day's biggest gainers. Axis (down by 1.95%), ICICI (down by 1.86%), Kotak (down by 1.51%), and IndusInd Bank (down by 1.48%), along with Bharti Airtel (down by 1.82%), lost significant ground during the day. Out of the 2,758 stocks traded during the day, 1,495 saw advances, while 1,180 saw declines. Prices of 128 stocks hit their 52-week high, while 18 stocks hit their 52-week low. Mr. Ajit Mishra, SVP, Research, Religare Broking Ltd., notes that the markets traded within a narrow range throughout the day, closing nearly unchanged after a recent surge. 'Initially positive, the session saw profit-taking in key heavyweights that offset early gains, resulting in the Nifty settling around 24,009.30 levels, down by 0.15%. Despite this, sectors like <keyword id="6357014" type="General" weightage="20" keywordseo="energy" source="Orion">energy</keyword>, <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">pharma</keyword>, and metal ended in positive territory, contributing to gains of around 0.5%–0.9% in broader indices..". "Looking ahead, there's a possibility of consolidation in the benchmark index following recent upward movement, with support expected around the 23,700–23,900 range on any declines. Banking stocks are currently consolidating, while sectors such as IT, <keyword id="6357014" type="General" weightage="20" keywordseo="energy" source="Orion">energy</keyword>, and FMCG are buoying the index higher. Similar market dynamics are anticipated in the upcoming session, so traders should strategize accordingly," he continued. Rajesh Bhosale, Equity Technical Analyst, Angel One saw this as an exceptional week for the market, and cautioned that some cooling was on the cards. "It was an exceptional week for the bulls as markets reached new milestones. The week began on a negative note on Monday, with prices testing the previous week's lows. However, the bulls saw this as an opportunity and pushed prices higher. Prices continued to climb for four consecutive sessions, surpassing the 24,000 level for the first time. On Friday, the market opened positively and hit a new high of 24174, but some profit-taking in the second half led to a close just above 24000, marking a weekly gain of over 2%," he noted. Amidst all the key events, June was a remarkable month for the markets, with gains exceeding 6.5%. While the market appears to be in a strong bull run, the next move in the coming week might be challenging as oscillators across all major time frames are in overbought territory. Often, overbought conditions indicate potential inherent signs; however, in the near term, a cool-down cannot be ruled out. While taking contra-bets and shorting the market is not advised, taking some profits is prudent, as a correction, either in price or time, is anticipated." Bhosale said. <h2>IPO market</h2>The primary market is gearing up for another stellar period, given that three companies launched their initial public offerings (IPOs) to raise approximately ₹2,208 crore this week. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd. notes that with political stability restored, stock markets are once again on the rise, and the Nifty and Sensex indices have hit record highs. "Optimism is especially pronounced in the IPO market, as Hyundai Motor India, the country's second-largest carmaker, is planning a huge ₹25,000 crore IPO this year, which would be the biggest in India's history. We expect significant capital to be deployed in public markets and strong demand for both new-age and conventional companies in the coming months," he said.

Stock market closing: Nifty, Sensex close the day in red, Dr. Reddy, ONGC shine

<ul><li>Gland Pharma, which debuted on the share market last year, has doubled its share price in a little over 6 months.</li><li>The IPO priced at ₹1,500 was subscribed twice over and the stock listed at a 20% premium to the issue price.</li><li>In the last three months alone, the company’s shares have surged by over 44%.</li></ul>Investors who stuck with Gland Pharma despite the ₹6,480 crore initial public offer (IPO) receiving a tepid response have reason to celebrate – their initial investment has doubled in a span of a little over 6 months. Shares of the pharma company rallied on May 18, surging by nearly 8%. The <keyword id="10219475" type="UNKNOWN" weightage="20" keywordseo="Gland-Pharma-share-price">Gland Pharma share price</keyword> was hovering around ₹3,011 at 11:00 am, more than ₹200 up from its previous closing price of ₹2,793. <div type="image" title="Gland Pharma 20_11_20 to 18_05_21." msid="82732400" hostid="261" caption="&amp;lt;p&amp;gt;Gland Pharma share price&amp;lt;/p&amp;gt;"></div> Gland Pharma was listed on the stock exchanges on November 20, 2020. Compared to the issue price of ₹1,500, this is a 100% gain till date. Nearly half of the surge in Gland Pharma’s shares has come after the slump on February 1 – since then, the share price has increased by over 44% till date. May alone has contributed to a 14% increase in the share price of the company, in the run up to its March 2021 quarter results. As a result of this rally, Gland Pharma’s total market capitalisation has crossed ₹45,000 crore. And there could be a further rally. “Gland Pharma reported a good set of numbers in Q4FY21, with good revenue growth in export as well as domestic market,” said a report by Angel Broking, adding that the company is capitalising on the demand for COVID-19 related products. A report by Kotak Institutional Equities Research highlighted the positives that outline Gland Pharma’s growth prospects. “Gland Pharma ended FY2021 on a strong note with new launches and expansion into other geographies driving robust revenue growth. A strong pipeline of products, healthy filing rate, entry into new markets, potential for increasing market share in recently launched products along with higher traction in Covid-related products provide solid medium-term growth visibility,” the report said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Brokerage </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Target price </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Upside </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Recommendation </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3280 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">9% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">BUY </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Share Khan </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹3040 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">1% </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">BUY </td></tr></tbody></table> “Our ability to respond to changing market demands during COVID-19 was visible bearing the registered growth in markets of the U.S, Europe, Canada and Australia and back of new launches and volume growth in existing portfolio, supported by our increased capacity,” said Srinivas Sadu, chief executive at Gland Pharma. However, there are some concerns that could impact the company’s performance, so there could be wisdom in being cautious. “The company’s profitability and growth are very reasonable. It has 45-50% of its revenue coming from a few large clients, and that does present some kind of concentration risk. But just the breadth of the business allows the company to continue to do well,” Chakri Lokapriya, managing director at TCG Asset Management, <a href="https://economictimes.indiatimes.com/markets/expert-view/can-gland-pharma-stock-see-more-upside/articleshow/79338981.cms">told Economic Times</a> after Gland Pharma’s IPO last year. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/airtels-india-business-is-back-in-the-black-after-a-very-long-time/articleshow/82709100.cms">Airtel's India business is back in the black after a very long time</a> <a href="https://www.businessinsider.in/business/telecom/news/mukesh-ambanis-reliance-jio-is-making-less-money-off-its-subscribers-than-it-did-12-months-ago/articleshow/82331233.cms">Reliance Jio is making less money off its subscribers than it did 12 months ago</a> <a href="https://www.businessinsider.in/tech/apps/news/whatsapp-responds-to-privacy-criticism-by-alleging-other-apps-like-zomato-ola-aarogya-setu-zoom-google-and-other-apps/articleshow/82570897.cms">WhatsApp responds to privacy criticism by alleging that other apps and tech companies also show disdain for user privacy</a>

A super hit IPO from 2020 has finally doubled investors' money

HCL Tech, Tata Motors and Nazara Technologies are the top stocks to watch out for on December 9

You Searched For "Gland Pharma IPO stocks" and got 3 results

Stock market closing: Nifty, Sensex close the day in red, Dr. Reddy, ONGC shine

Ira Alok Puranik

A super hit IPO from 2020 has finally doubled investors' money

Rounak Jain

HCL Tech, Tata Motors and Nazara Technologies are the top stocks to watch out for on December 9

Bhakti Makwana

Popular Keywords

Buying Guides