SP Tulsian of sptulsian.com told CNBC-TV18, "I like Glenmark Pharma because yesterday we saw delivery based buying taken place of about 10 lakh shares closer to about 78 percent and the open interest also is very light, only about 12 lakh shares are there in the open interest in future."
"If you go by the results expectations, similar quarter last year they had out licensing revenue of Rs 49 crore. So, if you exclude that and take just the year-on-year (YoY) comparison then probably market will find that little subdued for this current but excluding that Rs 49 crore out licensing revenue, which they had in the previous quarter of the similar YoY then the growth is likely to be there on a sequential basis, quarter on quarter (QoQ); if you take on the topline expected to be about 6-7 percent and the bottomline is expected to be about 5-6 percent. So, I do not think that there is any kind of disappointment," he added
"In Glenmark Pharma generally we see Rs 500 as a good support for the stock and now maybe Ranbaxy Laboratories fiasco and all that, people will be taking a shift in the position because Biocon has seen a good run up, Aurobindo Pharma has seen a good run up. So, you are left with very few stocks maybe stocks like Lupin, Sun Pharmaceutical Industries, you cannot remain revolving around to those stocks for quite a long time. So maybe one can look for a level of about Rs 532 in intraday itself."
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