Stock market news: Glenmark Pharma shares jump 4%

NEW DELHI: Shares of Glenmark Pharmaceuticals Ltd. traded 4.24 per cent up in Friday’s trade at 12:13PM (IST). Around 212,411 shares changed hands on the counter.

The scrip opened at Rs 497.9 and touched an intraday high and low of Rs 518.1 and Rs 495, respectively, in the session so far. The stock of Glenmark Pharmaceuticals Ltd. quoted a 52-week high of Rs 572.7 and a 52-week low of Rs 168.

Total market cap of the Glenmark Pharmaceuticals Ltd. stood at Rs 14537.3 crore at the time of writing this report.

Key Financials

The company reported consolidated net sales of Rs 2344.79 crore for the quarter ended 30-Jun-2020, down 15.27 per cent from previous quarter’s Rs 2767.49 crore and down 2.68 per cent from the year-ago quarter’s Rs 2283.6 crore.

The net profit for latest quarter stood at Rs 254.04 crore, up 132.47 per cent from the corresponding quarter last year.

Shareholding pattern

As of 30-Jun-2020, DIIs held 2.36 per cent stake in the company, while foreign institutional investors held 23.4 per cent and the promoters 46.62 per cent.

Valuation ratio

According to BSE data, the stock traded at a P/E multiple of 15.79 and a price-to-book ratio of 0.44. A higher P/E ratio shows investors are willing to pay a higher price because of better future growth expectations. Price-to-book value indicates the inherent value of a company and is the measure of the price that investors are ready to pay even for no growth in the business.

Glenmark Pharmaceuticals Ltd. belongs to the Pharma – Indian industry.