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Glenmark Pharma share price is over 22% higher after upgrading stock to buy CLSA

Glenmark Pharma's stock price rose above 22 percent on November 18 after global research firm CLSA upgraded stocks to purchase from sales and increased from Rs 350 to Rs 410 per share. .

The company said Glenmark's Q2 FY20 results were beyond forecasts, while all geographies had witnessed the first-ever YoY growth in over three years.

While US sales momentum is expected to remain strong, business in India should continue to grow above the industry rate. CLSA also increased 20-22 EPS EPS by 3% and 22%.

High R & D spending in the medium term is unlikely to reduce debt significantly. The company says it is interested in leveraging the balance sheet, making the 11x FY21EPS look attractive.

Glenmark Pharma reported a consolidated net profit of £ 255.54 for the second quarter, which ended in September. Glenmark Pharmaceuticals reported a net profit of 414 crore in the July-September quarter of its BSE application a year ago. The company's net sales increased by 8.81 percent to RRE 2,763.73 during the review period, compared to Rs 2,539.85 Crore over the same period of the previous fiscal year.

Net Net profit cannot be compared to the previous quarter calculated on the basis of exceptional revenue of TL 167.18 for the second quarter of the previous fiscal year. Ada Said.

Glenn Saldanha, President and Managing Director of Glenmark Pharmaceuticals, said: “In the second quarter, most of our businesses recovered strongly, showing good growth. Latam's business also improved in the second quarter. "

Glenmark Pharma is bidding at 366.00 at the level of 64.80 or up to 21.51%. It touched the intraday high of 369.60 Rs and the intraday low of 308 Rs. Get access to Moneycontrol Pro, India's fastest growing financial subscription service for as little as Rs 599 for the first year. Use the "GETPRO" code. Moneycontrol Pro provides all the information you need for wealth creation, including actionable investment ideas, independent research and insights and analysis. For more information, check out the Moneycontrol website or mobile app.

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