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The shares of Neuland Laboratories traded over 3% lower on NSE at 12:30 pm. However, the stock has given a return of 197% in the past year as against the benchmark index which rose 17% during the period. Syngene, on the other hand, trading half a percent lower has made investors 23% richer in a year’s time.
The buy call on Neuland also comes a day after a large transaction in the stock. As many as 4.9 lakh shares of Neuland Laboratories changed hands on December 12. The number of shares that changed hands amounted to 3.8% of the total outstanding equity of the company. Shares changed hands at an average price of ₹15,900 per share, which takes the total transaction value to ₹780.3 crore.
Promoters of Neuland Laboratories currently hold 32.6% stake in the company at the end of the September quarter.
Meanwhile, biotechnology firm Biocon earlier this week announced sale of 80 lakh equity shares
of Syngene International through an open market block deal, garnering ₹686 crore from the transaction. Following the sale, Biocon’s shareholding in Syngene, its subsidiary and a leading contract research, development and manufacturing organisation (CRDMO), has reduced to 52.46%.
In its latest brokerage note, Goldman Sachs said it continues to prefer Syngene and Neuland over Divi’s, on which it has a neutral call, and Gland Pharma and Laurus Labs, which it recommends selling.
The brokerage explained that analysis of export data of key CRDMO companies for November suggests mixed trends.
It added that export data exhibits relatively high correlation to actual reported numbers, and highlights that monthly fluctuations for relatively smaller firms can remain high, on the back of bunching of shipments in a particular month.
Separately, Gland Pharma has also received approval of the United States Food and Drug Administration (FDA) for phytonadione injectable emulsion USP, 10 mg/mL single dose ampoules. This product is indicated in coagulation disorders caused by vitamin K deficiency or interference with vitamin K activity.
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