glenmark: Glenmark closes 3% lower post API arm sale deal
According to analysts, the sale of Glenmark Life could impact the profitability of Glenmark Pharma in FY25 but lower interest payments could offset the impact. ICICI Securities said the company will use the proceeds to clear its outstanding debt of 4,340 crore as of FY23 but the transaction is likely to result in an earnings cut of 5% for FY25. The brokerage has a sell rating on the stock with a price target of 660.
Source: indiatimes.com