Gland Pharma shares fall over 2% amid block deal report

Gland Pharma Ltd, a global pharmaceutical manufacturing company specializing in generic sterile injectables, shares fell 2% in Wednesday's trade amid reports of a block deal. Gland Pharma shares fell 2.14%, hitting a low of Rs 2,924.60, compared with the previous close of Rs 2,988.60. The stock opened at Rs 3,004.45 and also touched a high of Rs 3,004.45 during the session.

According to a report, around 15 lakh shares of the pharmaceutical company were likely to change hands in a block deal today. The reported size of the transaction is pegged at around Rs 450 crore, while the floor price has been set at Rs 2,990 per share. According to a report by CNBC Awaaz, the block deal was likely to involve around 15 lakh Gland Pharma shares, with the transaction value estimated at Rs 450 crore. The reported floor price of Rs 2,990 per share was close to the stock's previous closing price.

The reported block deal comes as Gland Pharma sees activity on the counter, with the proposed floor price of Rs 2,990 per share slightly above the stock's intraday low. Gland Pharma shares have gained 72.99% so far in 2026, rising by Rs 1,251.90 year to date.

Meanwhile, 360 One Capital has retained its positive view on Gland Pharma and set a target price of Rs 3,050 per share. The brokerage expects the company's CDMO business to ramp up, supporting its growth outlook.

The brokerage is targeting around 20% constant-currency growth as the CDMO business scales up. It also expects EBITDA margins to improve to around 34-35%, from the current level of around 28%.

360 One Capital said, "We expect Gland to clock 13%/21% Revenue/PAT CAGR over FY2628e. At the CMP of Rs 2922, Gland trades at 39x/31x FY27/FY28 EPS of Rs 75.1/Rs 93.1."