Glenmark continues to be a good performer: Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research, SMC Global Securities Limited is of the view that Glenmark Pharma will continue to be a decent performer.

Thununguntla told CNBC-TV18, “Glenmark Pharma will continue to be a decent performer. However, I doubt whether it can be able to generate that 60 percent kind of returns per year. Most of the positives are factored in and the market being bearish has helped it the last one year. The market is still in a nervous mood and that will keep the pharma stocks up so Glenmark Pharma will be a beneficiary. Having said that, that kind of big returns of 50-60 percent that maybe doubtful but one can always buy for stable 10-20 percent kind of return.”