Indian markets have managed to pullback from the quick decline witnessed in August. But, the investors have become very cautious and many of them are confused as well. The market direction is dependent on various factors and many of them are out of control of the companies one may invest in. The risk of war on Syria scared the investors in August and September. The Indian currency also faced one of the fastest falls in the month of August. Investors should be cautious about where they put their money. So, we are presenting some of the stocks which one can invest in medium to long term.
Glenmark Pharmaceuticals Ltd has said that its US partner, Salix Pharmaceuticals Ltd has received an approval from US FDA for the marketing of Crofelemer 125 mg delayed-release tablets.
The Crofelemer 125 mg tablets are for the symptomatic relief of non-infections diarrhea in patients with human immunodeficiency virus (HIV)/acquired immune deficiency syndrome (AIDS) on anti-retroviral therapy (ART). Crofelemer is a gastrointestinal agent that is made from the Croton lechleri plant, which is found in northwestern South America.
Mumbai-based, Glenmark Pharmaceuticals has entered into an agreement with Forest Laboratories for collaboration for development of inhibitors to treat chronic inflammatory conditions.
Under the agreement, Forest Laboratories will provide a payment of US$ 6 million upfront and will also provide US$ 3 million to support the next phase of work. The company will make other payments during the next financial year to support the advancement of the ongoing mPGES-1 inhibitors programne.
Glenmark Pharmaceuticals has said that its consolidated net profit have risen by an impressive 158 per cent during the second quarter of the current financial year.
The consolidated net profit rose to Rs 1,567.52 million during the second quarter till September, 2012, compared to Rs 558.55 million in the same quarter of the previous year. The net sales of the company increased 18.93% to Rs
Glenmark Pharmaceuticals has recorded a fall of 46.7 per cent in the quarter till December 2011 manly due to the foreign exchange losses.
The Pharmaceutical company recorded a consolidated net profit of Rs 46.11 crore in the quarter compared to Rs. 86.52 crore in the same quarter of the previous year. The company said that it lost as much as Rs. 102 crore on dollar denominated loans due to the fall in the value of the rupee.
Glenmark Pharmaceuticals Ltd has reported a fall of 36 per cent in its net profit in the second quarter of the year.
The fall in profit was mainly due to a one-time royalty-related payment and mark-to-market (MTM) requirements on some foreign currency denominated loans. It had to make a one time payment to of Rs. 131.68 crore during the quarter to exercise purchase option in an agreement with US-based venture fund firm Paul Capital Partners' Royalty Fund.
On Tuesday, Glenmark Pharmaceuticals Ltd. has revealed unaudited consolidated results for the quarter ended June 30, 2011. Further, it stated a net profit of Rs. 2101.08mn ended June 30, 2011 as compared to Rs. 1705.41mn for the quarter ended June 30, 2009 whereas its total income has climbed to Rs. 8808.03mn from Rs. 6948.08mn for the quarter ended June 30, 2010.
Glenmark Pharmaceuticals SA has successfully completed Phase-I clinical trials of its new molecule, GRC 15300, which has been developed for treatment of neuropathic pain. GRC 15300 is a first in–class inhibitor for treatment of pain.
Chairman and Managing Director of the company, Mr. Glenn Saldanha, said that GRC 15300 is the first TRPV3 inhibitor across the globe. Glenmark done its Phase-1 analysis in UK and Saldanha said that they have plans to start the clinical proofing of the study.
Glenmark’s Q3 numbers disappointed on US sales growth front and lower margins. US generic sales grew by mere 8.2% YoY and de-grew 8.8 % QoQ on back of product withdrawal during the quarter and slow pick-up in recently launched products. We expect the company’s US sales to pick-up from Q4 onwards on back of gradual improvement in market share.
Post the negative news flow on Tarka, the stock is trading at 21.2x FY11 and 15.8x FY12 recurring earnings. We recommend Buy on the stock with a target price of Rs332 (ex-Tarka).
US sales growth disappoints
Glenmark a Pharmaceutical firm posted net profit of Rs 109.55 crore in the quarter ended December 31, 2010 which shows that its net profit rose by 16.45% as compared to same quarter last year.
In a filing to the Bombay Stock Exchange (BSE) Glenmark Pharmaceuticals said that net profit of the company are boosted by the impressive performance of its India formulations business.
Stock market analyst Gaurang Shah of Geojit BNP Paribas has maintained 'buy' rating on Glenmark Pharmaceutical Limited stock with a target of Rs 365-375.
The analyst said that the stock can be purchased with a stop loss below 2%.
The stock of the company, on December 27, closed at Rs 354.60 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 389.75 and a low of Rs 230 on BSE.
Current EPS & P/E ratio stood at 17.18 and 20.53 respectively.
Technical analyst Parsh Zaveri of Zaveri Investments has maintained 'buy' rating on Glenmark Pharmaceutical Limited stock with a 3-5 day target of Rs 400.
According to analyst, the stock can be purchased with a stop loss of Rs 375.
The stock of the company, on Dec 06, closed at Rs 381.95 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 387 and a low of Rs 230 on BSE.
Current EPS & P/E ratio stood at 17.18 and 22.39 respectively.
Stock market analyst AK Prabhakar has maintained 'hold' rating on Glenmark Pharmaceutical Limited stock with long-term targets of Rs 450 and 475.
Today, the stock of the company opened at Rs 364.70 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 382 and a low of Rs 220 on BSE.
Current EPS & P/E ratio stood at 17.18 and 20.37 respectively.
Glenmark Pharmaceuticals has finished the third phase of human experimentations of Crofelemer, a novel drug to cure HIV-related diarrhea, which could make more than $80 million.
Hitesh Eidnani of Trend Tech Consultants is bullish on Glenmark Pharmaceutical Limited and has recommended 'hold' rating on the stock with targets of Rs 450 and 500.
According to Hitesh Eidnani, the interested investors can buy the stock with a stop loss of Rs 310.
The stock of the company, on Nov 05, closed at Rs 363.95 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 373.50 and a low of Rs 218.90 on BSE.
Current EPS & P/E ratio stood at 17.18 and 21.84 respectively.
Strong growth in all the markets, dip in margins Glenmark’s Q2FY11 results were better than our expectation. Strong 23% sales growth was based on the growth in US (+26%), Europe (+33%) and India (+22%). Lower realisation couple with the change in the product & customer mix dragged the gross margins by 200bps. EBITDA grew by slower rate of 11%. However, lower interest and depreciation translated in 15% growth in PAT.
Stock market analyst Mitesh Thacker has maintained 'buy' rating on Glenmark Pharmaceutical Limited stock to achieve a target that lies between targets of Rs 315 and 325.
According to analyst, the investors can buy the stock with a stop loss below Rs 288
The stock of the company, on Sept 27, closed at Rs 297 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 303.80 and a low of Rs 217.90 on BSE.
Current EPS & P/E ratio stood at 16.05 and 19.06 respectively.
Stock market analyst Somil Mehta of Sharekhan has maintained 'buy' rating on Glenmark Pharma Ltd stock to achieve a target of Rs 330.
The strict stop loss for the stock is Rs 265.
Today, the stock of the company opened at Rs 284.30 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 303.80 and a low of Rs 216.90 on BSE.
Current EPS & P/E ratio stood at 16.05 and 17.73 respectively.
Stock market analyst Hitesh Chotalia has maintained 'buy' rating on Glenmark Pharmaceutical Ltd stock to achieve short term target of Rs 315.
According to analyst, the interested investors can buy the stock with strict stop loss of Rs 280.
The stock of the company, on Sep 01, closed at Rs 288.65 on the Bombay Stock Exchange (BSE).
The share price has seen a 52-week high of Rs 303.80 and a low of Rs 214.60 on BSE.
Current EPS & P/E ratio stood at 16.05 and 18.09 respectively.
Glenmark Pharmaceuticals has declared its April-June quarter financial results for the fiscal year 2010-11. The pharma company has announced that it has registered an impressive three fold net profit rise in the quarter under review.
Pharmaceutical Company, Glenmark said on Wednesday that it has got approval from the US regulator, USFDA for introducing its treatment for asthma.
Its generic theophylline tablets are for treating lung-related diseases. It will be selling these medicines in the American markets.
The approval was given to Glenmark Generics Inc (GGI), which is a subsidiary of Glenmark Generics Ltd. It can now start marketing and distributing this drug, that will be available in 400 mg and 600mg dosages.