Stock market analyst Hitendra Vasudeo of stockmechanics.com maintained ‘Buy’ rating on Glenmark Pharmaceuticals to achieve a target between Rs 274 – Rs 300 in 2-3 trading sessions.

According to Mr. Vasudeo, interested investors can buy the stock around Rs 257.80-Rs 248 with a strict stop loss of Rs 241.

Today, the shares of the company opened at Rs 264.40 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 8.70 & 29.39 respectively. The share price has seen a 52-week high of Rs 696.50 and a low of Rs 119.15 on BSE.

Foreign fund house Solane Robinson LLP, on July 21, said it has increased its holding stake in Glenmark Pharma to 5.31% after purchasing shares worth Rs 19.57 crore via an open market operation.

Solane Robinson LLP bought purchased 8,47,000 shares of Glenmark Pharma.

Prior to the above deal Solane Robinson LLP has 4.97% stake, while now it possesses 5.31% (1,32,96,986 shares) of Glenmark Pharmaceuticals.

Glenmark Generics Inc., USA (GGI), the US arm of Glenmark Generics commenced the launch of Fosinopril Sodium and Hydrochlorothiazide tablets in United States.

Fosinopril Sodium and Hydrochlorothiazide (HCTZ) tabs, which are prescribed for treating high blood pressure, are available in both 10mg/12.5mg and 20mg/12.5mg potencies.

Glenmark Pharmaceuticals, on July 03, received first-to-file status for three of its abbreviated new drug applications (ANDA), which have combined profits of more than $2 billion in the US.