OFS proved to very successful, probably institution got allotment near 828-830 and retailers got allotment 841-842, heavy volume with high delivery in last 3-4 days has significantly absorb the supply, Probably within weak the full supply will be absorbed. Now stock performance will depend on quaterly results specially the topline growth as everything else is fine.
GLS is expected to continue its 90% Complex Generic API supply with 10-15% CDMO until Solapur Plant comes online.
But a interesting thesis has come from Sh Kenneth Andrade of Old Bridge Capital that by 2030 Indian Generic Pharma will be at the same spot as Indian IT Sector. Indian Generic Pharma will consolidate & capture world Generic Market by 2030. If his thesis remains valid than GLS will be a major beneficiary. Hopefully the Growth will start appearing in GLS in next couple of quaters which is missing from last 2 years.
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