Avoid buying Glenmark Pharma: Deepak Mohoni
"If you look at history of Glenmark, it has punished investors on the downside quite a few times."
By 
|
| Deepak Mohoni, Director, trendwatchindia.com in an interview with ET Now talks about Glenmark Pharma.
Glenmark Pharma on the charts?
If you look at history of Glenmark, it has punished investors on the downside quite a few times. It has plunged from Rs 750 to 120 during that last bear market. You do not expect pharma stocks do to that and this is still way below the peak it has reached.
Even in this bull market while it lasted, it had come up to only 400. We are short of that 750 rise it had once reached. So this stock was never really the top pharma pick anyway and it does tend to remain very vulnerable on the downside. So it is avoidable at the best of times also. Lot of other pharmas hold out. They even often go up in bear market because people shift from more volatile stocks into pharmas but Glenmark unfortunately does not enjoy that confidence.
Glenmark Pharma on the charts?
If you look at history of Glenmark, it has punished investors on the downside quite a few times. It has plunged from Rs 750 to 120 during that last bear market. You do not expect pharma stocks do to that and this is still way below the peak it has reached.
Even in this bull market while it lasted, it had come up to only 400. We are short of that 750 rise it had once reached. So this stock was never really the top pharma pick anyway and it does tend to remain very vulnerable on the downside. So it is avoidable at the best of times also. Lot of other pharmas hold out. They even often go up in bear market because people shift from more volatile stocks into pharmas but Glenmark unfortunately does not enjoy that confidence.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
