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PSU bank shares fell after advancing in the past two trading sessions.
At 12:25 IST, the barometer index, the S&P BSE Sensex jumped 145.72 points or 0.17% to 85,755.23. The Nifty 50 index surged 18.95 points or 0.08% to 26,224.85.
The Nifty 50 and the Sensex hit fresh all-time highs in morning trade at 26,306.95 and 86,026.18, respectively, while the Bank Nifty also scaled a new record high of 59,804.65.
In the broader market, the S&P BSE Mid-Cap index shed 0.21% and the S&P BSE Small-Cap index fell 0.28%.
The market breadth was almost even. On the BSE,1,960 shares rose and 1,950 shares fell. A total of 219 shares were unchanged.
Derivatives:
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 1.37% to 12.13. The Nifty 30 December 2025 futures were trading at 26,403.10, at a premium of 178.25 points as compared with the spot at 26,224.85.
The Nifty option chain for the 30 December 2025 expiry showed a maximum call OI of 62.4 lakh contracts at the 26,000 strike price. Maximum put OI of 77 lakh contracts was seen at 26,000 strike price.
Buzzing Index:
The Nifty PSU Bank index declined 0.92% to 8,473.05. The index rose 2.23% in the past two consecutive trading sessions.
Indian Bank (down 3.06%), Bank of India (down 1.83%), Union Bank of India (down 1.35%), Indian Overseas Bank (down 1.04%), State Bank of India (down 0.9%), Punjab & Sind Bank (down 0.76%), Punjab National Bank (down 0.64%), UCO Bank (down 0.61%), Bank of Baroda (down 0.57%) and Bank of Maharashtra (down 0.57%) declined.
Stocks in Spotlight:
Lokesh Machines fell 1.96% after the company announced that it received an order worth Rs 7.96 crore from Kirloskar Oil Engines.
Glenmark Pharmaceuticals rose 0.68%. The U.S. FDA issued a positive establishment inspection report (EIR) with voluntary action indicated (VAI) status for the company's formulations manufacturing facility in Monroe, North Carolina.
The inspection at the Monroe facility was conducted from 9 June to 17 June 2025. Glenmark said that with this positive development, it will restart commercial manufacturing at the facility.
Glenmark Pharmaceuticals is engaged in the business of development, manufacturing, and marketing of pharmaceutical products, both formulations and active pharmaceutical ingredients, to regulated and semi-regulated markets.
Glenmark Pharmaceuticals, the company, reported a 72.3% jump in consolidated net profit to Rs 610.25 crore on a 76.6% increase in revenue from operations to Rs 6,003.79 crore in Q2 FY25.
Glenmark Pharmaceuticals Ltd is up for a third straight session today. The stock is quoting at Rs 1941, up 1.03% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.18% on the day, quoting at 26251.5. The Sensex is at 85859.63, up 0.29%. Glenmark Pharmaceuticals Ltd has gained around 6.94% in last one month.
Meanwhile, Nifty Pharma index of which Glenmark Pharmaceuticals Ltd is a constituent, has gained around 2.75% in last one month and is currently quoting at 22862.35, down 0% on the day. The volume in the stock stood at 9.89 lakh shares today, compared to the daily average of 12.05 lakh shares in last one month.
The benchmark December futures contract for the stock is quoting at Rs 1952, up 0.86% on the day. Glenmark Pharmaceuticals Ltd is up 29.82% in last one year as compared to a 9.77% jump in NIFTY and a 5.22% jump in the Nifty Pharma index.
The PE of the stock is 36.84 based on TTM earnings ending September 25.
Glenmark Pharmaceuticals announced the launch of Nebzmart® GFB Smartules® and Glenmark Airz® FB Smartules®, the world's first nebulized, fixed-dose triple therapy for the treatment of Chronic Obstructive Pulmonary Disease (COPD).
Both products combine three proven medicines - Glycopyrronium, Formoterol, and Budesonide - to reduce airway obstruction, inflammation, and improve lung function and symptom control. As a single, easy-to-use nebulized therapy, it minimizes the burden of multiple medications. This marks a breakthrough as a new standard of care for COPD patients, especially those who struggle with using Metered Dose Inhalers (MDI) or Dry Powder Inhalers (DPI).
The therapies combine three proven medicines—Glycopyrronium, Formoterol, and Budesonide—to reduce airway obstruction, control inflammation, and improve lung function and symptom management. Designed as a single, easy-to-use nebulized therapy, the products aim to reduce the burden of multiple medications for patients.
Glenmark said the launch represents a breakthrough in COPD care, particularly benefiting patients who face challenges using Metered Dose Inhalers (MDI) or Dry Powder Inhalers (DPI). The company expects the therapy to set a new standard of care for managing COPD worldwide.
Alok Malik, president & business head, India Formulations, Glenmark Pharmaceuticals said, “At Glenmark, innovation is about reimagining and redefining how therapies reach patients. With Nebzmart® GFB Smartules® and Glenmark Airz® FB Smartules®, the world’s first nebulized triple therapy for COPD, we are transforming respiratory care. This milestone reinforces Glenmark’s position as a front-runner in respiratory innovation and our commitment to making advanced, affordable, and accessible solutions for patients.”
Monika Tandon, global head of clinical development, Glenmark Pharmaceuticals, said, “This launch represents a significant advancement in the management of COPD and demonstrates our focus in strengthening global respiratory leadership. Nebulizer medications are easy to use in patients with COPD. The strong efficacy and safety demonstrated in the clinical study further support this novel treatment approach in COPD.”
Cosmo Pharmaceuticals N.V. and Glenmark Pharmaceuticals announced that the European Commission (EC) has granted Marketing Authorization (MA) for Winlevi® (clascoterone 10 mg/g cream), following the positive opinion issued by the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) on 25 August 2025.
Winlevi® is authorized in EU for the treatment of acne vulgaris in both adults and adolescents aged 12 to <18 years, with usage in adolescents limited to facial application. With receipt of this approval, Glenmark will initiate commercializing Winlevi® across 15 countries in EU namely Bulgaria, the Czech Republic, Denmark, Finland, France, Hungary, Iceland, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain and Sweden.
The approval covers the treatment of acne vulgaris in adults and adolescents aged 12 to under 18 years, with usage in adolescents restricted to facial application. Glenmark will commercialize the product across 15 European countries: Bulgaria, the Czech Republic, Denmark, Finland, France, Hungary, Iceland, the Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Spain, and Sweden.
Christoph Stoller, President & Business Head – Europe and Emerging Markets of Glenmark Pharmaceuticals, said, “The approval is a key milestone in executing our mission to become a research-led, global pharmaceutical company. Winlevi is the first NCE launch of Glenmark in Europe and is key to strengthening our presence in dermatology in the region. We are committed to executing successful launches with urgency and precision, ensuring timely access for patients in full alignment with regulatory and access frameworks.”
Shares of Glenmark Pharmaceuticals fell 1.12% to Rs 1,844.65 on the BSE.
EBITDA was Rs 2,359.6 crore in the quarter ended September 30, 2025, as compared to Rs 601.9 crore in the corresponding quarter of the previous year, registering growth of 292% and an EBITDA margin of 39%.
In India, sales from the formulation business in Q2 FY26 were at Rs 165 crore as against Rs 1,281.7 crore posted in the previous corresponding quarter, recording a decline of 87.1%
The North America business recorded sales of Rs 4,465.6 crore for the second quarter of FY26 as against revenue of Rs 740.5 crore for the second quarter of FY25.
Glenmark Europe’s operations revenue for the second quarter of FY26 was Rs 746.0 crore as against Rs 687.4 crore and recorded a growth of 8.5% YoY. The company continues to focus on sustaining the increasing contribution from the branded markets / portfolio in Europe.
For the second quarter of FY 2026, revenue from emerging markets was Rs 658.5 crore as against Rs 704.1 crore for the previous corresponding quarter, recording a decline of 6.5% YoY.
Glenn Saldanha, chairman & managing director, Glenmark Pharmaceuticals, said, “Q2FY26 reflects the steady progress we are making in strengthening Glenmark’s scientific and strategic foundation. The AbbVie partnership for ISB 2001, along with the income recognised this quarter, is a significant validation of our scientific strength and enables us to advance the pipeline in a financially self-sustaining way.
Across key markets, our performance remained resilient. North America delivered a continued uptick in performance, supported by the expansion of our injectable portfolio and steady execution across institutional channels. Europe returned to its growth trajectory, backed by recent product launches. In India, GST-related adjustments, given our unique three-tiered distribution model, had a one-time impact on primary sales; however secondary sales continue to outperform IPM, and we expect reported growth to normalize from Q3 onwards.
Our specialty and innovation businesses progressed several important milestones this quarter including the global expansion of Ryaltris, the UK launch of Winlevi, the regulatory and clinical milestones achieved for QiNHAYOTM, and our IGI oncology assets. We remain committed to disciplined execution, advancing meaningful science, and delivering sustained value for our patients, partners, and all stakeholders.”
Glenmark Pharmaceuticals is engaged in the business of development, manufacturing and marketing of pharmaceutical products both formulation and active pharmaceuticals ingredient to regulated and semi-regulated markets.
In the cash market, the Nifty 50 index gained 103.40 points or 0.40% to 26,013.45.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, shed 1.25% to 11.79.
Tata Motors Passenger Vehicles, Glenmark Pharmaceuticals and HDFC Bank were the top-traded individual stock futures contracts in the F&O segment of the NSE.
The November 2025 F&O contracts will expire on 25 November 2025.