Quote on Glenmark Life Science IPO expected listing by Mr. Yash Gupta, Angel Broking Ltd
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Below is quote on Glenmark Life Science IPO expected listing by Mr. Yash Gupta, Equity Research Associate, Angel Broking Ltd
Glenmark Life Science IPO to list today, what to expect from listing and what the GMP?
We expect the listing of Glenmark Life Science IPO to be in the range of ₹810 to ₹870, i.e price to earning of 25-27 times as other pharma peers are also trading in a nearby range. So, we are expecting listing gains to be in between 12%-20%.
As per the different market news, the grey market premium is at ₹90-₹100 i.e premium of 12.5%-13.8%. We suggest short-term investors to book partial profit in the range of ₹810-₹870 and can hold partial allotment as we expect Glenmark Life Science to do better in the Medium to Long term.
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On the higher side, immediate resistance is seen around 36000 - 36200 levels - Angel One
