External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

External broker reports(aggregated public sources)

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>GLAND has 11 injectable products in the USFDA shortage list, which have combined sales of ~USD400m over the past 12-months.</li><li>The overall number of drugs under shortage in the US has declined to a 15-year low at present.</li><li>However, the number of injectables facing a shortage is at its 20-year average, but is at a record high as a percentage of total drug shortages.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

GLAND has 11 injectable products in the USFDA shortage list, which have combined sales of ~USD400m over the past 12-months.The overall number of drugs under shortage in the US has declined to a 15-year low at present.However, the number of injectables facing a shortage is at its 20-year average, but is at a record high as a percentage of total drug shortages.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Well-Placed to Gain from the Drug Shortages in the US

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

Thematic (Sector/Industry)

<ul><li>4QFY22 is expected to be a flattish quarter for most Pharma companies in our coverage universe.</li><li>We expect a few companies to benefit from the US market, including Sun Pharma, Natco Pharma, Biocon and Cipla.</li><li>Sun Pharma is expected to gain on Winlevi ramp-up and growth in key products, including Cequa and Ilumya Revlimid launch in March 2022 will see some favourable impact in 4QFY22.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

4QFY22 is expected to be a flattish quarter for most Pharma companies in our coverage universe.We expect a few companies to benefit from the US market, including Sun Pharma, Natco Pharma, Biocon and Cipla.Sun Pharma is expected to gain on Winlevi ramp-up and growth in key products, including Cequa and Ilumya Revlimid launch in March 2022 will see some favourable impact in 4QFY22.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Pharmaceutical Sector: Sequentially Flattish Quarter Expected

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Emcure Pharmaceuticals / Equity Capital Markets

<ul>
<li>Emcure Pharmaceuticals Limited is looking to raise around US$500m in its upcoming India IPO.</li>
<li>EP is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. </li>
<li>In this note, we talk about the various aspects of the deal.</li>
</ul>


Emcure Pharmaceuticals Limited is looking to raise around US$500m in its upcoming India IPO.
EP is an Indian Pharmaceutical company engaged in the developing, manufacturing and globally marketing a broad range of pharmaceutical products across several major therapeutic areas. 
In this note, we talk about the various aspects of the deal.


Emcure Pharmaceuticals Pre-IPO - Proforma Earnings Were Strong but It Faces a Host of Legal Issues

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Gland Pharma reported a good set of numbers with revenue for the Q3FY22 growing by 23.7% on a YoY basis</li><li>The strong growth was majorly driven by robust performance in the emerging markets as well as the India market while core markets reported an encouraging 10.5% growth</li><li>We, therefore, recommend a HOLD rating on the stock with a target price of Rs 3,575/share.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Gland Pharma reported a good set of numbers with revenue for the Q3FY22 growing by 23.7% on a YoY basisThe strong growth was majorly driven by robust performance in the emerging markets as well as the India market while core markets reported an encouraging 10.5% growthWe, therefore, recommend a HOLD rating on the stock with a target price of Rs 3,575/share.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Strong Growth Across Geographies to Drive Profitability

<p>High competition in injectables generic and increase in raw material prices may impact the company's growth and margins in the upcoming quarters. Furthermore, we believe valuations are rich and thus recommend a HOLD with a target price of Rs 4,000/share</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

High competition in injectables generic and increase in raw material prices may impact the company's growth and margins in the upcoming quarters. Furthermore, we believe valuations are rich and thus recommend a HOLD with a target price of Rs 4,000/shareContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Gland Pharma: Strong Growth in Injectable; Rich Valuations

India

Gland Pharma Limited manufactures and markets small volume parenteral solutions.The Company offers injectables, including vials, ampoules, pre-filled syringes, lyophilized vials, dry powders, infusions, and ophthalmic solutions, and other active pharmaceutical ingredients. Gland Pharma conducts its business worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Gland Pharma Ltd (GLAND IN)

Gland Pharma: Well-Placed to Gain from the Drug Shortages in the US

GLAND has 11 injectable products in the USFDA shortage list, which have combined sales of ~USD400m over the past 12-months.The overall number of...

Motilal Oswal

Pharmaceutical Sector: Sequentially Flattish Quarter Expected

4QFY22 is expected to be a flattish quarter for most Pharma companies in our coverage universe. We expect a few companies to benefit from the US...

Nirmal Bang

Emcure Pharmaceuticals Pre-IPO - Proforma Earnings Were Strong but It Faces a Host of Legal Issues

Emcure Pharmaceuticals Limited is looking to raise around US$500m in its upcoming India IPO. It is the 12th largest Indian Pharmaceutical company.

Sumeet Singh

Gland Pharma: Strong Growth Across Geographies to Drive Profitability

We believe stock trades at rich valuations of PE of 38.4x and 32.4x for FY23E and FY24E respectively. We, therefore, recommend a HOLD rating on the...

Axis Direct

Gland Pharma: Strong Growth in Injectable; Rich Valuations

High competition in injectables generic and increase in raw material prices may impact the company's growth and margins in the upcoming quarters....

Axis Direct

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)