As per the media interaction of Glenmark’s management, they are looking to sell only 7-8% in GLS as of now. I know there are media reports doing the rounds since last 2-3 months about the parent putting their entire stake in GLS on block, however that may not be the case as of today. Also, the CFO clearly mentioned that the stake sell will not happen in next 1 quarter so we will have to wait probably till 2024 to get a clear picture. This is one of the overhang for GLS. Leaving that aside, I think the company is doing well and we should not give much importance to the day to day movement of the stock unless there is substantial information available.
Looking To Divest 7-8% In Glenmark Life To Meet Minimum Public Shareholding Norms : Glenmark Pharma
Disc: Invested
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