Glenmark Pharma may see more downside: Deepak Mohoni
The market conditions, in the last week or two, have been quite adverse and that usually has an impact on Glenmark.
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| Deepak Mohoni, Director, trendwatchindia.com, in a chat with ET Now talks about Glenmark Pharma.
Do you think there is more downside on Glenmark Pharma?
Quite possibly because this stock has been among the underperforming pharmas for quite a while and it does well enough when the market is rallying and pharmas are rallying. But now the market conditions, in the last week or two, have been quite adverse and that usually has an impact on Glenmark.
If you look at the last bear market, this stock really tumbled. There was some news-related decline but it had fallen from Rs 750 to Rs 110 within a year. So that’s not what you expect out of a defensive pharma.
Do you think there is more downside on Glenmark Pharma?
Quite possibly because this stock has been among the underperforming pharmas for quite a while and it does well enough when the market is rallying and pharmas are rallying. But now the market conditions, in the last week or two, have been quite adverse and that usually has an impact on Glenmark.
If you look at the last bear market, this stock really tumbled. There was some news-related decline but it had fallen from Rs 750 to Rs 110 within a year. So that’s not what you expect out of a defensive pharma.
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