India's Glenmark Pharma rises; HSBC upgrades to 'buy'

Glenmark Pharmaceuticals

27/03/2025 08:29

March 27 - ** Shares of Glenmark Pharmaceuticals Ltd GLEN.NS rise 2.3% to 1,495.95 rupees
** Stock top gainer on Nifty Pharma .NIPHARM index, which is down 1%
** HSBC upgrades drugmaker to "buy" from "hold" citing visibility on margin expansion for its base business; raises PT to 1,785 rupees from 1,630 rupees
** Brokerage also sees scope for re-rating if GLEN secures a licensing deal for its targeted cancer therapy ISB 2001
** GLEN, like half the stocks on 20-member NIPHARM, is rated "buy" - data compiled by LSEG
** Stock trims YTD losses to ~7%, faring better than pharma stocks' nearly 10% drop this year

 (Reporting by Nandan Mandayam in Bengaluru)

 ((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))