Short Term Buy Call For Glenmark Pharma

Short Term Buy Call For Glenmark Pharma        Stock market analyst Hitesh Chotalia has maintained 'buy' rating on Glenmark Pharmaceutical Ltd stock with short term target of Rs 300.

According to analyst, the investors can hold the stock with stop loss of Rs 264.

Today, the stock of the company opened at Rs 275.50 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 303.80 and a low of Rs 210.50 on BSE.

Current EPS & P/E ratio stood at 12.27 and 22.68 respectively.

Glenmark Pharmaceuticals Limited (GPL) recorded an increase of 44% in its fourth quarter consolidated revenue, which stood at Rs 7091.47 million as compared to Rs 4910.84 milllion during the last year.

Income from the generics business stood at Rs 2,732.86 million, an increase of 23% over the last year's period.

The revenue from Speciality formulation business was Rs 4,358.61 million as compared to Rs 2,692.03 million recording growth of 62%.

The company's consolidated net profit for the fourth quarter stood at Rs 1,026.18 million.

The US District court has announced its decision in favor of Glenmark Pharma's generic version of hyper-tension drug Tarka.

The company is expected to enjoy 6-month exclusivity period.