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Price rebounding after taking support at 50% retracement of current up move and 20 day EMA, signaling further upsides.

The Nifty Bank index was trading 0.26 per cent up at 44000.2.

The stock traded at a P/E multiple of 12.62, while the price-to-book value ratio stood at 1.07.

The dealer sentiment has been what I may call a bit on a roller coaster ride. As you said, the season was building up well, in February most of our channel partners talked up in anticipation of a strong, consistent summer.

The Relative Strength Index of the stock stood at 43.19 on Tuesday.

The risks have been addressed and valuations are reasonable in the Indian market, says Prashant Jain, Founder of 3P Investment Managers. The markets have been range-bound for the last 18 months, which has led to moderation in multiples, and profitability is holding up well. Jain suggests returns should match earnings growth or nominal GDP growth, with valuations in terms of PE multiples trading at 16-17 times based on FY25.

Glenmark Pharmaceuticals, incorporated in the year 1977, is a Mid Cap company (having a market cap of Rs 17198.15 Crore) operating in Pharmaceuticals sector.

Promoters held 0.0 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 7.01 per cent and 3.29 per cent, respectively.

A total of 39,400 shares changed hands on the counter till 12:25PM (IST).

So first and foremost at the outset, the Q4 was a decent quarter. In terms of our sales growth, we did about Rs 3370 crores and almost 11.7% growth and EBITDA margin of almost 17.9%. I think the coming year we are quite optimistic about touching about 19-20% based on a couple of things; one obviously is we expect the revenue to grow at about 10-11%.