Glenmark Pharmaceuticals Ltd up by 10.32%: Market Update By Espresso


Espresso shot of the day – Glenmark Pharmaceuticals Ltd up by 10.32 percent

November 23, 2021
Espresso shot of the day – Glenmark Pharmaceuticals Ltd up by 10.32 percent

GLENMARK PHARMACEUTICALS LTD 517.45  (+10.32%) BSE – INE935A01035 | 23RD NOVEMBER 2021

Glenmark Pharmaceuticals was founded with a vision to be a leading integrated research-based, global pharmaceutical company. The company’s branded generics business has a significant presence in markets across emerging economies including India. The generics business services the requirements of developed markets like US and Western Europe. Our API business sells products in over 65 countries including the US, various countries in the EU, South America and India. With 14 manufacturing facilities and 3 R&D centers dedicated to the goal of enriching lives across the globe we believe that the real force behind our continued successes are dedicated employees from across 60 nationalities, committed to creating 'A new way for a new world'.

Recent Drivers

  • Standard and Poor’s (S&P) has upgraded long-term issuer rating on Glenmark Pharmaceuticals from “BB-” to “BB” on the expectation of conservative debt levels given limited upcoming capital investments and healthy free operating cash flow.
  • Glenmark Pharmaceuticals gained 1.41% to rise to Rs 531.05 after the drug company posted a 10.1% increase in consolidated net profit to Rs 257.66 crores on a 7.5% rise in net sales to Rs 3,125.43 crores in Q2 FY22 over Q2 FY21.
  • On 16th Nov 2021, Glenmark Pharmaceuticals Ltd. announced that the company has been listed in the Dow Jones Sustainability Index (DJSI), under the category of emerging markets for the fourth consecutive year.
  • On 26th Oct 2021, Glenmark Pharmaceuticals said it has become the first company in the world to launch a unique fixed dose combination drug for diabetes in India.
  • The company said it has introduced fixed dose combination (FDC) of its novel, patent protected Sodium Glucose Co-Transporter Inhibitor (SGLT2i) – Remogliflozin Etabonate and another widely used DPP4 inhibitor (Dipeptidyl Peptidase 4 inhibitor) – Vildagliptin, with Metformin.
  • On 11th Oct 2021, Glenmark Pharmaceuticals Limited launched a bioequivalent version of Tiotropium Bromide dry powder inhaler (DPI) to treat chronic obstructive pulmonary disease (COPD) in Spain.

(Sources: MoneyConrol, Business Standard, Business Today)

Technical Force*

  • S&P BSE 200 month till date gain up by -0.14%
  • 3 months avg. NSE volume: 13,57,285
  • Quantity traded: 2,61,470 | Deliverable quantity: 68,976 (26.38%)
  • Stock price has jumped more than 15% from one-year low level: 442.15 (March 25, 2021)
  • Daily RSI (14) is in Oversold territory today
  • 52-week-high: 690.60 | 52-week-low: 442.15

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Some Key Ratios (Source: BSE)

Market Cap: 14,600.79 crores

PE: 7.20

OPM%: 44.50

ROE%: 12.69

Promoters holding%: 46.65

Prev. Close: 469.05

Chart And Technical Force data taken from the Binge desktop app.

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Chandresh Khona
by Chandresh Khona

Product Offerings Head

A teacher, writer, travel buff and now Espresso's Product Offerings Head. Ten years here has allowed me to lead the digital team at Sharekhan. My true passion lies in stock market charts.