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NEW DELHI :
Drugmaker Glenmark Pharmaceuticals Ltd’s inventory rose 7% in early commerce on Monday after the corporate reported sturdy earnings for the primary quarter ended 30 June of fiscal yr 2020-21.
On the BSE, the Glenmark inventory jumped by 6.96% to Rs508.50. On the NSE, it rose 7% to Rs509.
The pharma main on Friday posted an over two-fold rise in its consolidated internet profit at Rs254.04 crore for the June quarter of FY21.
At 12:06 pm, shares of Glenmark Pharmaceuticals had been buying and selling at Rs485, up 2.02% from its earlier shut, on the BSE, whereas the BSE Sensex rose 0.13% at 37,927.03.
On the NSE, the inventory was buying and selling at Rs485, 1.96% larger, whereas the Nifty 50 index was at 11,209.15, up 0.28%.
“It has been a difficult quarter throughout all markets because of the ongoing pandemic. Despite the tough working atmosphere, we managed to report gross sales development for the group, mentioned Glenmark Pharmaceuticals chairman and MD Glenn Saldanha in a press release on Friday.
“We focussed on controlling prices on all fronts and can proceed with these efforts for the remaining a part of the monetary yr,” Saldanha additionally mentioned.
Glenmark Pharmaceuticals is the primary firm in the nation to launch Favipiravir for the remedy of delicate to average Covid-19 sufferers.
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