Glenmark Pharmaceuticals rose 2.52% to Rs 615.95 at 11:44 IST on BSE on reports that the UK drug regulator has renewed a manufacturing certificate for the company's Baddi unit.
Meanwhile, the S&P BSE Sensex was down 24.22 points, or 0.08% to 31,647.49.On the BSE, 89,000 shares were traded in the counter so far, compared with average daily volumes of 91,236 shares in the past one quarter. The stock had hit a high of Rs 626.65 and a low of Rs 600 so far during the day. The stock hit a 52-week high of Rs 993 on 1 November 2016. The stock hit a 52-week low of Rs 567.95 on 12 September 2017.
The stock had outperformed the market over the past one month till 4 October 2017, falling 0.41% compared with 0.43% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 8.30% as against Sensex's 0.96% rise. The scrip had also underperformed the market in past one year, falling 35.29% as against Sensex's 12.23% rise.
The large-cap company has equity capital of Rs 28.22 crore. Face value per share is Re 1.
According to reports, UK drug regulator has renewed a manufacturing certificate for Glenmark Pharmaceuticals' Baddi unit in Himachal Pradesh.
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Further, Czech drug body has also renewed the manufacturing certificate of Glenmark Pharmaceuticals' Fibichova unit in Czechia, reports added.
Glenmark Pharmaceuticals' consolidated net profit surged 47.01% to Rs 333.38 crore on 21.99% rise in net sales to Rs 2329.39 crore in Q1 June 2017 over Q1 June 2016.
Glenmark Pharmaceuticals is a research-driven, global, integrated pharmaceutical organization. Glenmark 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 focused in the areas of oncology, dermatology and respiratory.
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