Buy Glenmark Pharmaceuticals; target Rs 710: Manas Jaiswal

Manas Jaiswal of manasjaiswal.com has a buy call on Glenmark Pharmaceuticals with a target price of Rs 710.

The current market price of Glenmark Pharmaceuticals is Rs 683.40. Time period given by analyst is Intra Day when Glenmark Pharmaceuticals price can reach defined target. Manas Jaiswal recommended to keep stoploss at Rs 670. Glenmark Pharmaceuticals , incorporated in the year 1977, is a Large Cap company (having a market cap of Rs 19283.37 Crore) operating in Pharmaceuticals and health care sector.

Glenmark Pharmaceuticals key Products/Revenue Segments include Pharmaceuticals which contributed Rs 6042.06 Crore to Sales Value (93.93 per cent of Total Sales), Other Operating Revenue which contributed Rs 335.83 Crore to Sales Value (5.22 per cent of Total Sales) and Sale of services which contributed Rs 54.00 Crore to Sales Value (0.83 per cent of Total Sales)for the year ending 31-Mar-2018.


For the quarter ended 30-09-2018, the company has reported a Consolidated sales of Rs 2539.86 Crore, up 19.28 per cent from last quarter Sales of Rs 2129.37 Crore and up 14.23 per cent from last year same quarter Sales of Rs 2223.44 Crore Company has reported net profit after tax of Rs 414.00 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.