Glenmark recovers partial losses

The stock  recovered some of its losses to finally end at Rs 258, down over 2% from the previous close. Around 691,753 shares were traded on the BSE as compared to the two-week daily average traded volumes of 698,158 shares on the BSE.
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(Updated at 1006hrs)

Glenmark has tumbled on a over 50% drop in Q1 net profit.

The stock today opened at Rs 263. It touched a high of Rs 267 but started slipping thereafter. It plunged 6% to a low of Rs 246 and is now at Rs 251 - down 5%.

Around 111,054 shares have been traded on the BSE so far.

Glenmark Pharmaceuticals recorded a net profit of Rs 53.45 crore for the first quarter, a sharp drop of 53 per cent as compared with Rs 115.37 crore during the corresponding period the previous year.

The consolidated revenue, however, increased 18% to Rs 543.69 crore.