Exit Glenmark Pharma, says Sandeep Wagle

Sandeep Wagle of powermywealth.com told CNBC-TV18, "One should exit Glenmark Pharma maybe on a bounce Rs 575 or so. I don’t see the stocks sustaining at higher levels and in case there is some more correction in the markets the stock will go nearer Rs 500 or maybe below that. On the downside if Rs 515 is broken the stock can become weak."

At 14:38 hrs Glenmark Pharma was quoting at Rs 547.25, up Rs 8.85, or 1.64 percent on the BSE.

The share touched its 52-week high Rs 930.00 and 52-week low Rs 517.40 on 11 May, 2017 and 19 February, 2018, respectively.

Currently, it is trading 41.16 percent below its 52-week high and 5.77 percent above its 52-week low.