Hold Glenmark Pharma: Sekhar

Phani Sekhar, Fund Manager, Angel Broking is of the view that one can hold Glenmark Pharma with a target of Rs 600 over the next 12-15 months time frame.

Sekhar told CNBC-TV18, “We hold Glenmark Pharma in our portfolio so to that extent we have a vested interest. I believe it is one of the better midcap pharma companies you have for investing because it has a very strong R&D capability. On top of it its presence in niche areas such as dermatology stands it in very good state over the next two years and that is also the reason why you are expecting very robust topline and bottomline growth in excess of 20 percent over the next two years or so." He further added, "Valuations although are a bit on the higher side are not very expensive so the investor can continue to hold on. One can expect a reasonable price target of Rs 600 over the next 12-15 months.”