Today’s top morning headlines - 23rd May 2024

Good afternoon

Top gainer: Adani Enterprises 3,304 ▲ 163 (+5.2%)
Top loser: Sun Pharma 1,490 ▼ 48 (-3.1%)

:star: Gland Pharma announces first-ever post-listing dividend, shares jump over 10%
Pharmaceutical company Gland Pharma, which went public in 2020, has declared its first-ever dividend of ₹20 per share for financial year 2023-24. Subsequently, the company’s stock price skyrocketed. The shares hit an intraday high of up to 10.9% at ₹1,989 apiece on Thursday, May 23. Read more.

:star: Lupin shares fall 7% as key drug sold in US market now faces more competition
Shares of pharma major Lupin dropped up to 7% during the intraday trading on Thursday, after the US regulators granted clearance for the sale of Albuterol Sulfate Inhalation Aerosol to one of the company’s competitors. Albuterol, which is used in cases of wheezing, shortness of breath and difficulty in breathing, is the second highest contributor of revenue for Lupin from the US market. Read more.

:star: Data Patterns shares rise 12% in 6 days after growth in Q4 net profit
Shares of Data Patterns (India) Ltd, a defence and aerospace electronics solutions provider, jumped over 5% in trade on Thursday, May 23, following the positive momentum after strong Q4 results. The stock has jumped nearly 12% in the past six trading sessions, since the closing price on May 15, on the back of strong earnings for the quarter ended March 2024. Read more.