Glenmark Pharmaceuticals lost 0.48% to Rs 489.90 at 14:42 IST on BSE after a block deal of 4.81 lakh shares was struck on BSE at Rs 500 per share at 14:13 IST.
The block deal constitutes 0.17% of Glenmark Pharmaceuticals' equity.
Meanwhile, the S&P BSE Sensex was down 145.83 points or 0.79% at 18,291.95.
On BSE, 6.70 lakh shares were traded in the counter as against average daily volume of 80,481 shares in the past one quarter.
The stock hit a high of Rs 519 and a low of Rs 489.90 so far during the day. The stock had hit a 52-week low of Rs 301 on 11 April 2012. The stock had hit a 52-week high of Rs 550.80 on 9 January 2013.
The stock had outperformed the market over the past one month till 8 April 2013, sliding 2.87% compared with the Sensex's 6.33% fall. The scrip had, however, underperformed the market in past one quarter, declining 9.25% as against Sensex's 6.61% fall.
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The large-cap company has equity capital of Rs 27.09 crore. Face value per share is Re 1.
Glenmark Pharmaceuticals' consolidated net profit surged 375.1% to Rs 212.92 crore on 34% growth in net sales to Rs 1381.26 crore in Q3 December 2012 over Q3 December 2011.
Glenmark Pharmaceuticals (GPL) is a research-driven, global, integrated pharmaceutical company headquartered at Mumbai, India. It is a leading player in the discovery of new molecules both NCEs (new chemical entity) and NBEs (new biological entity). Glenmark has several molecules in various stages of clinical development and is primarily focused in the areas of Inflammation (asthma/COPD, rheumatoid arthritis etc) and Pain (neuropathic pain and inflammatory pain). The company has a significant presence in branded generics markets across emerging economies including India. GPL along with its subsidiary has 13 manufacturing facilities in four countries and has five R&D centers. Its subsidiary, Glenmark Generics services the requirements of the US and Western Europe generics markets. The API business sells its products in over 80 countries, including the US, various countries in the EU, South America and India.
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