Motilal Oswal backs Glenmark with ₹3,000 target after Q2 FY27
Motilal Oswal is backing Glenmark Pharmaceuticals, suggesting now is a good time to buy with a target price of ₹3,000.
This comes after Glenmark posted strong results for the second quarter of fiscal 2027: revenue and EBITDA were both up 5% over forecasts.
Even though other income was lower, the company's performance in India and North America really stood out.
Glenmark outpaced India peers 300 bps
Glenmark beat industry growth in India by about 300 basis points thanks to solid gains in heart, skin, and respiratory medicines.
North America also saw a boost from new product launches.
With more respiratory products on the way and portfolio expansion in emerging markets, Motilal Oswal expects Glenmark's momentum to continue into fiscal 2027 and fiscal 2028 (hence that ambitious ₹3,000 price target).