BSE Code: | NSE Code: | ISIN: | Sector:

NSE
598.40
Change Change %
-10.15 -1.67%

Updated:23 Oct, 2017, 15:59 PM IST

BSE
598.65
Change Change %
-10.85 -1.78%

Updated:23 Oct, 2017, 15:54 PM IST

Research Report Detail

Brokerage
Analyst
Report Date Call Price@Call Target Price
Stop Loss
Current Status Time Horizon
Nomura
N/A
30-08-2017 Buy 615.00 856.00
N/A
Open Long (1Y)
30-08-2018

Nomura maintains buy on Glenmark Pharmaceuticals

Pricing pressure in the US and delays in key launches are areas of concerns in case of Glenmark Pharmaceuticals (GNP). GNP's pipeline has some interesting product opportunities but timely approval and launch remains key. In India, we expect GNP to sustain growth ahead of the broader market. We factor in lower US revenues (pricing pressure INR appreciation) and keep R&D at elevated levels. Hence we reduce EPS for FY18F/19F by 22%/27%. We lower our target price to INR856 (from INR966).

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