Analyst Research Report Snapshot

Title:

Finquest Sec. - Glenmark - Result Q4FY13 - May 13, 2013

Price:

$115.00

Provider:

Finquest Securities Pvt Ltd

Date:

13 May 2013

Pages:

11

Type:

AcrobatPDF

Companies referenced:

GLEN.NS

Available for Immediate Download
Summary:

Maintain our HOLD rating and our target price of Rs.536 GNP reported Q4FY13 marginally ahead of ours as well as consensus estimates. The strong growth momentum witnessed in the past quarters continued with sustained all round performance across geographies. The beat in earnings came due to outperformance in India (where it continue to grow higher then industry average as reported by AIOCD, GNP's MAT for FY13 grew by 18% vis-a-vis industry growth of 10.1%). We believe the stock is fairly valued at the current price and there is limited room for further upside. We maintain our HOLD rating on GNP and maintain our target price of Rs.536 citing multiple rerating has already played out and believe that near terms triggers are priced in.

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