Stories
Gland Pharma and Kanohar Electricals Surge on Strong Earnings and Brokerage Support
M
Moneycontrol•07-10-2026, 13:16
Gland Pharma and Kanohar Electricals Surge on Strong Earnings and Brokerage Support
- •Kanohar Electricals shares surged 16 percent after reporting a 140 percent year-on-year jump in Q1 profit to Rs 27.3 crore.
- •Gland Pharma shares added 4 percent following Nomura's decision to retain a Buy rating with a target price of Rs 3,750.
- •Marsons gained 6 percent after announcing a joint venture with Cleanhill Partners to boost transformer operations in North America.
- •Broader market performance showed the Nifty Midcap index down 0.5 percent while the smallcap index traded flat.
- •Market breadth on the BSE remained negative with 1,597 shares advancing and 2,260 declining.
Key Questions Answered
Kanohar Electricals shares surged 16 percent after the company reported a 140 percent year-on-year jump in its Q1 profit to Rs 27.3 crore and a 103.5 percent surge in revenue to Rs 137.1 crore.
Nomura retained a 'Buy' rating on Gland Pharma with a target price of ₹3,750, driven by the company's pivot toward CDMO, biologics, and in-licensing.
Marsons shares gained 6 percent after the company and New York-based private equity firm Cleanhill Partners announced their intent to form a joint venture to accelerate transformer distribution, servicing, and manufacturing operations across the US and Canada.
