Glenmark Pharmaceuticals gains 0.6 percent to 434.60 rupees after J.P.Morgan raises its price target on the stock to 515 rupees from 440 rupees after meeting the drug maker's chairman, Glenn Saldanha.
J.P.Morgan says Glenmark is reporting "strong" growth outlook for its core markets of India and the United States, according to a report dated on Tuesday.
Glenmark is targeting revenue CAGR of 20 percent in the United States over the next three years as its product pipeline provides "strong visibility."
Latin America and Eastern Europe operations are close to breaking even, J.P.Morgan also reports after meeting Saldanha.
Glenmark 's management is also confident of sustaining cah flow, given limited capital spending over the next two to three years.