Glen Pharma IPO valuations are not so attractive but listing gains will always be there, says Sandip Sabharwal, analyst.
Glen is an interesting company but the IPO valuations are not so attractive but listing gains will always be there. People do not necessarily need to use their minds in terms of what exactly they are buying as long as it is a decent company, listing in a decent market. The listing will pop.
There has been some cooling off in the pharma space. We have also seen decent results coming out from many companies including Dr. Reddy’s and Sun Pharma. Sun Pharma NSE -0.30 % trades pretty cheaply relative to the rest of the pharma basket as well as it’s historical valuations. The performance has not been consistent and so they sounded reasonably positive. Sun Pharma could look interesting. Dr. Reddy has been doing well, it has come off the top. It is a general correction and not a selloff. From the current levels, Dr. Reddy should do reasonably well.
Whether the next US president is a Democrat or a Republican, the market seems to have made up its mind to go up.
Initially, markets were falling because Trump was behind, then it was rising because Biden was winning easily, then it was a Blue Wave. I think all sorts of things are there. The fact of the matter is marketing globally are in some sort of frenzy. In the Indian context, the BFSI companies have delivered results that have been better than expectations, especially in terms ...
Source: Economic Times