India's Glenmark Pharma rises as HSBC retains bullish view

Glenmark Pharmaceuticals

03/09/2025 09:41

** Shares of Glenmark Pharmaceuticals GLEN.NS up 3.5% to 1985 rupees

** HSBC Global Investment Research retains "buy" rating and PT of 2,380 rupees ($27.20) on GLEN on the back of good visibility on growth drivers

** Easing R&D spend, start of supplies from Monroe plant, U.S. FDA approval for gFlovent, pick-up in the U.S. and India businesses led by new launches are key drivers for GLEN's growth - HSBC

** Stock set to rise most in a session since July 11

** Stock has been above its 100-day, 200-day simple moving avgs since June, indicating bullish sentiment

** Avg rating of nine analysts is "buy" and median PT is 2,380 rupees, ~19% higher than current price - data compiled by LSEG

** YTD, GLEN up ~24%

($1 = 87.5060 Indian rupees)

 (Reporting by Anuran Sadhu in Bengaluru)

 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))