Coronavirus in India cases are increasing at a very fast rate, but there is no need to panic, as Glenmark Pharmaceuticals has prepared the drug. If someone is suffering from mild corona, then the company has launched an antiviral drug Fabi Flu. This drug has also received approval from DGCI. In such a situation, when the stock market opens on Monday, its share price is likely to rise. Anyway, in the Corona era, the pharmaceutical stock is constantly taking a jump.
Price rises two and a half times since March
If you take a look at Glenmark Pharma share price, on Friday, it closed at Rs 410.40 with a rise of Rs 4.75 (1.17 percent). During the Corona period, this stock has taken a tremendous jump. The 52-week high of this stock is Rs 528.05 (19 June 2019). The 52-week low is Rs 161.65 (13 March 2020).
Bounce over 15 percent in June
Talking about the June performance of this stock so far, on May 31, Glenmark Pharma’s share price was Rs 355.05. It has become expensive by about Rs 55 in the last 21 days. That is, the share price has risen by more than 15% in June as compared to May. Its share price has risen by Rs 248 (155 percent) against its minimum level of Rs 13 (Rs 161.65) on March 13. On June 26, the company will release the last quarter and full-year results of the financial year 2019-20.
Nifty Pharma also holds rally
If you take a look at Nifty Pharma’s stock performance, it closed at 10,002 on Friday with a gain of 26.85 points (0.27 per cent). Nifty Pharma closed at 9768 on 31 May. It has risen by 235 points in the last three weeks.