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Market Live: Nifty under 11,900, Sensex slides in red; RComm, BPCL in focus



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Glenmark Pharma share price jumps 8% after CLSA upgraded stock to buy

Stock market price for pharmaceutical company Glenmark Pharma jumped 8 percent intraday on Monday after global research firm CLSA upgraded shares to buy from sale and raised target to Rs 410 from Rs 350 per share.

Glenmark's Q2 FY20 results were ahead of estimates while all geographies witnessed YoY growth for the first time in over three years, the company said.

US sales vessels are expected to remain strong while India's operations should continue to grow above the industry level. CLSA has also increased FY20-22 EPS by 3 percent and 22 percent.

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Glenmark Pharma share price jumps 8% after CLSA upgraded shares to buy

Glenmark Pharma share price jumped 8 percent intraday on Monday after global research firm CLSA upgraded shares to buy from sale and raised the target to Rs 410 from Rs 350 per share.

Glenmark's Q2 FY20 results were ahead of estimates while all geographies witnessed YoY growth for the first time in over three years, the company said.

US sales momentum is expected to remain strong while India's business should continue to grow above the industry level. CLSA has also increased FY20-22 EPS by 3 percent and 22 percent.


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