Glenmark Pharmaceuticals Ltd dropped for a fifth straight session today. The stock is quoting at Rs 324.6, down 0.75% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.36% on the day, quoting at 11950.7. The Sensex is at 40485.64, down 0.47%.Glenmark Pharmaceuticals Ltd has added around 2.37% in last one month.Meanwhile, Nifty Pharma index of which Glenmark Pharmaceuticals Ltd is a constituent, has increased around 2.54% in last one month and is currently quoting at 8044.85, up 0.44% on the day. The volume in the stock stood at 16.06 lakh shares today, compared to the daily average of 73.44 lakh shares in last one month.

The benchmark December futures contract for the stock is quoting at Rs 325.3, down 1% on the day. Glenmark Pharmaceuticals Ltd tumbled 48.21% in last one year as compared to a 10.83% rally in NIFTY and a 8.31% fall in the Nifty Pharma index.

The PE of the stock is 8.11 based on TTM earnings ending September 19.

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Glenmark Pharmaceuticals has been granted final approval by the United States Food & Drug Administration (USFDA) for Metformin Hydrochloride Extended‐Release Tablets USP, 500 mg and 1000 mg, the generic version of Glumetza®1 Extended‐Release Tablets, 500 mg and 1000 mg, of Salix Pharmaceuticals Inc.

According to IQVIATM sales data for the 12‐month period ending September 2019, the Glumetza®Tablets, 500 mg and 1000 mg market2 achieved annual sales of approximately $226.7 million.

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Glenmark Pharmaceuticals Ltd gained for a third straight session today. The stock is quoting at Rs 350.45, up 16.43% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is down around 0.04% on the day, quoting at 11890.75. The Sensex is at 40332.62, down 0.06%. Glenmark Pharmaceuticals Ltd has gained around 17.17% in last one month.

Meanwhile, Nifty Pharma index of which Glenmark Pharmaceuticals Ltd is a constituent, has gained around 1.21% in last one month and is currently quoting at 7720.6, up 1.55% on the day. The volume in the stock stood at 179.64 lakh shares today, compared to the daily average of 23.16 lakh shares in last one month.

The benchmark November futures contract for the stock is quoting at Rs 351.8, up 16.76% on the day. Glenmark Pharmaceuticals Ltd is down 45.77% in last one year as compared to a 10.47% jump in NIFTY and a 16.59% jump in the Nifty Pharma index.

The PE of the stock is 7.19 based on TTM earnings ending June 19.

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The brokerage cited attractive valuations, strong quarter-on-quarter (QoQ) growth in the US market and higher than industry growth in the India business as reasons for the upgrade.

The stock extended gains for the third straight session. It has risen 19.16% from a recent closing low of Rs 274.95 on 13 November 2019.

Glenmark Pharmaceuticals reported a consolidated net profit of Rs 255.54 crore in Q2 September 2019 as against net profit of Rs 414 crore in Q2 September 2018. The net profit is not comparable to the previous corresponding quarter on account of an exceptional income of Rs 167.18 crore in the last fiscal.

Net sales rose 8.8% to Rs 2,763.73 crore in Q2 September 2019 over Q2 September 2018.

The result was announced post trading hours on Thursday, 14 November 2019. The stock rose 6.70% to end at Rs 301.20 on Friday, 15 November 2019.

Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization.

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