Here is a bonus trade for our regular website visitors. Buy Glenmark Pharma (NSE:GLENMARK) stock at current market price (INR) 829, for target 919, and 789 as Stop Loss. This stock is listed on NSE and BSE in India. This trade can give 10% gain, and is likely to play out in the coming 4-5 weeks. Following are the trade details.
Date: 01 May 2016
Stock: Glenmark Pharma (NSE:GLENMARK)
Buy at: 829
There should be significant resistance/selling pressure between 919 and 959. Above 959 closing, the stock becomes a fresh buy for higher targets.
Glenmark Pharmaceuticals Ltd. (Glenmark) is an India-based pharma company, operating in 3 business segment: (1) Drug discovery (2) Formulations and (3) Generics. The company’s Drug discovery business focuses on the areas of inflammation, metabolic disorders and pain. Formulations business focuses on therapeutic areas, including dermatology, anti-infectives, respiratory, cardiac, diabetes, gynecology, central nervous system (CNS) and oncology. And Generics businesses focuses on dermatology, hormones, controlled substances, oncology and modified release products. The Company’s research pipeline includes Crofelemer, GRC 17536, GRC 27864, Vatelizumab, GBR 900 and GBR 830. It has 14 manufacturing facilities and has 6 R&D centers in 4 countries.