Buy Glenmark Pharmaceuticals, target price Rs 607: ICICI Securities

ICICI Securities has buy call on Glenmark Pharmaceuticals with a target price of Rs 607. The current market price of Glenmark Pharmaceuticals is Rs 527.85.

Time period given by analyst is one year when Glenmark Pharmaceuticals Ltd. price can reach defined target.

Glenmark Pharmaceuticals Ltd., incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 14809.60 Crore) operating in Pharmaceuticals sector.


Glenmark Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.


Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 3134.38 Crore, up 3.67 % from last quarter Total Income of Rs 3023.54 Crore and up 7.32 % from last year same quarter Total Income of Rs 2920.60 Crore. Company reported net profit after tax of Rs 274.80 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 46.65 per cent stake in the company as of 30-Sep-2021, while FIIs owned 29.85 per cent, DIIs 5.11 per cent.