Glenmark Pharmaceuticals’ better-than-expected July-September quarter performance, after several quarters of weak results, enthused the Street. The stock gained more than 21 per cent on Monday, following brokerage upgrades.
The quarter proved to be good for both India and US sales, which saw momentum rebound, and was well supported by other geographies. Analysts believe that Glenmark finally seems to be turning the corner, as is evident from its good operational performance and cost management in Q2. JPMorgan says that execution missteps, strategy shifts, and weak cash flow had ...
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