Monday 3 November 2008

Glenmark has potential to move back to Rs 375-400: Tulsian

Investment Advisor, SP Tulsian is of the view that Glenmark Pharma has potential to move back to Rs 375 to Rs 400 in the next two-three months.

Tulsian told CNBC-TV18, "I think Glenmark Pharma having tested or breached Rs 300 level and post September quarter results which have been good, online with Q1. At least has been given a base that may not breach Rs 300. From hereon the stock has potential to move up to Rs 375 or maybe closer to Rs 400 over next three-four months time because the problem of the research coming to an end of the company and taking a hit on that will definitely be hampering that next two quarters results if that may not happen in Q3 maybe in the next year. But taking overall call on the profitability and looking to the results. I think share has potential to move back to Rs 375 to Rs 400 in the next two-three months. From hereon the downside is very limited so one can remain invested. Think of exiting at the time when the stocks moves up to those levels of about Rs 375 or so."

Disclosure: The analyst has holdings in Shree Renuka, Hindalco, Ranbaxy.

Source: Moneycontrol

No comments:

Post a Comment

DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.