Earning strategy in Glenmark Life Sciences with Anil Singhvi, hold or sell shares after sluggish listing

IPO 2021: The listing of Glenmark Life Sciences in the stock market has become very sluggish. The company’s stock was listed on BSE at a price of Rs 751 with a premium of 4 per cent against the issue price of Rs 720. At the same time, after listing, the stock reached a price of Rs 800 on BSE. Today the low of the share is Rs 737. Right now the stock of the company is trading at a price of Rs 778. The IPO of Glenmark Life Sciences was open from July 27 to July 29. What should investors do now after listing. Should hold the stock for long term or take profit. Know the opinion of Anil Singhvi, Managing Editor of Zee Business about this.

hold for long

Anil Singhvi says that this stock is better for long term investors and not for those looking for listing gains. If you have a long term view, hold the stock. The valuation of the share is reasonable. It is neither cheap nor expensive. It is a subsidiary of Glenmark and has a strong track record. The background of the promoters of the company is very good. Many foreign giant pharma companies are included in its client list. The business of the company is good. There is a good demand for API business. This stock can give good returns in future. Short term investors are advised to keep a stop loss.

About IPO

Glenmark Life Sciences’ price band for the IPO was Rs 695-720. A lot of 20 shares was placed for the IPO. The company is competing with companies like Laurus Labs, Shilpa Medicare, Aarti Drugs and Solara Active Pharma Sciences in the market. The company will use the proceeds from the IPO to pay off debt and for general needs. The company is in API business. The share of API in its revenue in the financial years 2019 and 2020 was 89.87 percent and 84.16 percent.

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