Glenmark Pharma - Sep 2020 sales - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

Glenmark Pharmaceuticals Ltd. domestic sales growth at 34.5% in September 2020 while average Indian Pharma Market sales growth at 4.5% as per the AIOCD September data. Glenmark sales growth almost 7x to average Indian Pharma Market sales growth. Glenmark has achieved this growth on the back of Fabiflu, which is amongst one of the medicines which is used for treatment of Covid in India. Fabiflu sales for the September month is at ₹73 crores. We expect the sales growth rate of fabiflu to continue in upcoming months also.

Shares of GLENMARK PHARMACEUTICALS LTD. was last trading in BSE at Rs.474.45 as compared to the previous close of Rs. 485.8. The total number of shares traded during the day was 109253 in over 2726 trades.

The stock hit an intraday high of Rs. 495.8 and intraday low of 472.55. The net turnover during the day was Rs. 52460811.

Source : Equity Bulls

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