Brics PCG: 'Buy' SKM Egg, Glenmark

BRICs PCG recommends 'Buy' on SKM Egg Products at Rs 18  with a target price of Rs 44. The company has reported better than expected results in Q1FY07 especially on profitability front.

The brokerage house also recommends 'Buy' on Glenmark Pharma  at Rs 305  with a revised target price of Rs 396 (Rs 401 earlier).

The company's performance in Q1FY07 were below expectations particularly in the Indian and Latin American formulations markets where it has booked lower sales than expected which also led to lower than estimated numbers on the EBITDA and PAT fronts.

However results from the second quarter onwards should see a marked improvement.