NIFTY 50

Momentumisers: Why Glenmark Pharma is moving up consistently

Updated : April 16, 2021 11:40:28 IST

Glenmark Pharma gained 5 percent on Thursday. It has gained around 16 percent so far this month compared to Nifty Pharma's around 6 percent gains. The stock has performed better than its peers this year.

Yesterday, the volumes were three times the average volumes the stock trades at. The turnover has been building up in the last couple of weeks and this week it was much higher than the last three preceding weeks.

In terms of the levels to watch out for, it is comfortably above the 20-50 and 100-day moving average (DMA).

Due to the rise in COVID cases, all pharma stocks have been in focus with Glenmark being a big manufacturer of Favipiravir. The stock, hence, will remain in focus.

Watch the accompanying video of CNBC-TV18’s Sonal Bhutra for more details.
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