Glenmark Pharmaceuticals rose 2.10% to Rs 908.40 at 12:02 IST on BSE after a foreign brokerage started coverage on the stock with a "buy" rating.
Meanwhile, the BSE Sensex was down 138.23 points, or 0.51%, to 27,112.87.
On BSE, so far 1.01 lakh shares were traded in the counter, compared with an average volume of 1.06 lakh shares in the past one quarter.
The stock hit a high of Rs 912.80 and a low of Rs 888.80 so far during the day. The stock hit a record high of Rs 940 on 15 April 2015. The stock hit a 52-week low of Rs 510 on 19 May 2014.
The stock had outperformed the market over the past one month till 13 May 2015, falling 3.01% compared with 6.17% fall in the Sensex. The scrip had also outperformed the market in past one quarter, rising 16.07% as against Sensex's 6.34% fall.
The large-cap company has an equity capital of Rs 27.13 crore. Face value per share is Rs 1.
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The brokerage said Glenmark Pharmaceuticals is at cusp of revival with pick-up in US drug approvals
Glenmark Pharmaceuticals' consolidated net profit fell 46.9% to Rs 114.77 crore on 6% rise in total income to Rs 1703.43 crore in Q3 December 2014 over Q3 December 2013.
Glenmark Pharmaceuticals has a significant presence in branded generics markets across emerging economies including India.
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