Glenmark Life Sciences witnessed a surge of 3.15% in its share price, reaching ₹967.95 as of 11:38 AM on October 28, 2024. The stock saw positive momentum following Kotak’s double upgrade, which moved its rating from “Reduce” to “Buy.” The firm highlighted Glenmark’s curated API portfolio and a rich pipeline, alongside recent CDMO client wins, as key factors expected to drive future growth.
Despite challenges in Q2 FY25, including a temporary closure in Ankleshwar that impacted performance, Kotak remains optimistic about the company’s long-term prospects. Investors reacted positively to this update, anticipating recovery and sustained growth in the coming quarters.
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