Buy Glenmark Pharmaceuticals, target Rs 675: Dr CK Narayan

Dr CK Narayan of Chart Advise has a buy call on Glenmark Pharmaceuticals Ltd. with a target price of Rs 675. The current market price of Glenmark Pharmaceuticals Ltd. is Rs 657.9. Time period given by the analyst is Intra Day when Glenmark Pharmaceuticals Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stoploss at Rs 654. Glenmark Pharmaceuticals Ltd., incorporated in 1977, is a largecap company with a market cap of Rs 18567.13 crore.

Glenmark Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals which contributed Rs 7637.56 Crore to Sales Value (94.34 % of Total Sales), Other Operating Revenue which contributed Rs 400.67 Crore to Sales Value (4.94 % of Total Sales) and Sale of services which contributed Rs 57.26 Crore to Sales Value (0.70 % of Total Sales)for the year ending 31-Mar-2017.

For the quarter ended 30-06-2018, the company has reported a Consolidated sales of Rs 2129.37 Crore, down -5.27 % from last quarter Sales of Rs 2247.89 Crore and down -8.59 % from last year same quarter Sales of Rs 2329.39 Crore Company has reported net profit after tax of Rs 232.99 Crore in latest quarter. The company’s top management includes Dr.Brian W Tempest, Mr.Bernard Munos, Mr.D R Mehta, Mr.Glenn Saldanha, Mr.Julio Ribeiro, Mr.Milind Sarwate, Mr.Rajesh V Desai, Mr.Sridhar Gorthi, Mr.V S Mani, Mrs.B E Saldanha, Mrs.Cherylann Pinto. Company has Walker, Chandiok & Co.LLP as its auditoRs As on 30-06-2018, the company has a total of 282,168,156 shares outstanding.