Sell Glenmark Pharma, target Rs 485: Dr CK Narayan

Dr CK Narayan of Chart Advise has a sell call on Glenmark Pharmaceuticals Ltd. with a target price of Rs 485. The current market price of Glenmark Pharmaceuticals Ltd. is Rs 502.65. Time period given by analyst is Intra Day when Glenmark Pharmaceuticals Ltd. price can reach the defined target. Dr CK Narayan recommended to keep stop loss at Rs 510.

Glenmark Pharmaceuticals Ltd., incorporated in 1977, is a large-cap company with a market cap of Rs 14183.18 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.

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.Murali Neelakantan, Mr.Rajesh V Desai, Mr.Sridhar Gorthi, Mrs.B E Saldanha, Mrs.Cherylann Pinto. Company has Walker, Chandiok & Co.LLP as its auditoRs As on 31-03-2018, the company has a total of 282,168,156 shares outstanding.