India's Gland Pharma soars nearly 10% after Kotak upgrade
** Gland Pharma Ltd GLAD.NS shares jump nearly 10% to 1,770 rupees, set for their best day since August 2023
** Kotak Institutional Equities upgrades drugmaker's stock to "reduce" from "sell"; stock saw a 24% slump over the last three months
** Brokerage says GLAD's Q2 earnings show slump has likely bottomed out, sees sales growth for core business and French unit Cenexi recovering gradually
** Kotak's PT of 1,625 rupees is second-highest among analysts tracking stock - LSEG data
** Investec, Motilal Oswal retain "buy"; Motilal sees earnings growing 20% CAGR between FY25-27 after two years of decline
** Around 2.7 mln shares traded, 11x stock's 30-day avg volume
** Analysts tracking GLAD rate it "hold" on avg - LSEG data
** Stock trims YTD losses to 5.7% but trails Nifty Pharma Index's .NIPHARM 34% jump YTD
Reporting by Nandan Mandayam in Bengaluru
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