Tag: Glenmark

  • 21 Sep

    Glenmark Life Sciences shares up 1% on reports of Glenmark Pharma stake sale

    Glenmark Life Sciences shares were up over 1% in the afternoon trade on September 21 after reports that parent Glenmark Pharmaceuticals was looking to reduce its stake in the company. Glenmark Pharmaceuticals is required to reduce its stake to 75% by August 2024 to comply with SEBI regulations. Nirma and ChrysCapital have both submitted binding bids for Glenmark Pharmaceuticals' stake in Glenmark Life Sciences. In the April-to-June quarter, Glenmark Life Sciences reported an 18% YoY growth in revenue and a 24% YoY increase in net profit.

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