Thursday 8 October 2015

Glenmark Pharma stock slips 2%; Delhi HC restrains from selling anti-diabetes drugs

Report says that Delhi High Court restrained Glenmark Pharmaceuticals from manufacturing and selling its anti-diabetes drugs Zita and Zita-Met, saying it has infringed the patent of the American company.


glenmark pharma
Shares of Glenmark Pharmaceutical Ltd were lower by 2% at Rs. 1014. 
Report says that Delhi High Court restrained Glenmark Pharmaceuticals from manufacturing and selling its anti-diabetes drugs Zita and Zita-Met, saying it has infringed the patent of the American company.

The scrip opened at Rs. 1032 and has touched a high and low of Rs. 1032 and Rs. 1010 respectively. So far 222680(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 29142.5 crore.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1261.95 on 21-Aug-2015 and a 52 week low of Rs. 697.55 on 08-Oct-2014. Last one week high and low of the scrip stood at Rs. 1074.9 and Rs. 1025.95 respectively.
The promoters holding in the company stood at 46.45 % while Institutions and Non-Institutions held 42.81 % and 10.75 % respectively.
The stock is currently trading above its 50 DMA.

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