Glenmark Pharmaceuticals inches up on aiming to grow revenues by 10-11% in FY24
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Glenmark Pharmaceuticals is currently trading at Rs. 813.35, up by 2.55 points or 0.31% from its previous closing of Rs. 810.80 on the BSE.
The scrip opened at Rs. 811.05 and has touched a high and low of Rs. 819.85 and Rs. 788.60 respectively. So far 52046 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 836.30 on 09-Aug-2023 and a 52 week low of Rs. 363.80 on 27-Sep-2022.
Last one week high and low of the scrip stood at Rs. 819.85 and Rs. 771.45 respectively. The current market cap of the company is Rs. 22890.89 crore.
The promoters holding in the company stood at 46.65%, while Institutions and Non-Institutions held 34.67% and 18.69% respectively.
Glenmark Pharmaceuticals is aiming to grow its revenues by 10-11 per cent with a focus on free cash generation to reduce debt in the current financial year (FY24).
The company is also looking at enhancing EBITDA margins while expanding presence in various therapeutic segments like oncology and dermatology. The company will identify potential candidates for development purposes on a global scale as the drug maker moves up the value chain.
Glenmark Pharmaceuticals is a global research-led pharmaceutical company with presence across Generics, Specialty and OTC business with operations in over 50 countries.
