Glenmark Pharmaceuticals saw its shares jump over 6% on Monday morning after Investec initiated a “FAST Long” recommendation on the stock.
The brokerage set a target price of ₹1,900, representing a potential 17.6% upside from the previous close of ₹1,615.
Investec highlighted Glenmark’s strong earnings momentum and cash flow generation as key factors supporting the stock’s ongoing re-rating.
A significant near-term trigger is the Aurangabad facility receiving zero observations, which is crucial for the company’s respiratory products, including gFlovent MDI and nasal sprays.
As of 9:15 am, Glenmark shares were trading 6.11% higher at ₹1,736.70 on the NSE. Investec’s positive outlook on Glenmark, particularly in the branded generic markets in India and the rest of the world, where the company generates over 70% of its EBITDA, positions it as an attractive investment at 23 times the estimated EPS for September 2026.
