- Favipiravir drug cannot change the fortunes of Glenmark Pharmaceuticals in terms of revenue or profits. So if you do want to buy or sell the stock, do your own research on the total business of the company.
- Just because a company is covered by all news sources does not make it a great buy. Do your own research.
- Even with a 5-6% of the company getting traded in a day and not a buy name in the bulk deals and hardly any Mutual Fund ownership suggests there is no major institutional interest in the company. ( We will know more when the quarterly shareholding pattern comes out. )
- Would be interesting to see who bought the 25-40% pop. Was it retail or institutions. Will wait for the Quarterly shareholding and Mutual Fund Factsheets post current month.
- I have no major view on the stock price but a simple technical take would be the opening and low price of 450 on the announcement day is important. If it does not hold up it makes the technical trend negative. A fresh look technically if it can sustain above the highs of 550-570. But preference would be to do nothing
- No Positions on the stock or understanding of the company just a view based on publicly available price and volume data. Do your own research – Not a recommendation to buy or sell.
June 24, 2020
The curious case of GLENMARK Pharma
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