India Equity Analyst - Fundamental & Thematic, Beat the Street

Sudarshan Bhandari

India Equity Analyst - Fundamental & Thematic

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Equity Bottom-Up

Glenmark Pharmaceuticals / Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/glenmark-pharmaceuticals-ltd" target="_blank" data-smartkarma-citation="entities:10454:1" rel="noopener">Glenmark Pharmaceuticals (GNP IN)</a> signed the world’s fourth-largest biotech licensing deal by upfront value, receiving $700 million from AbbVie for its cancer drug ISB 2001. </li>
<li>The agreement grants AbbVie global rights for key markets while Glenmark retains Emerging Market access, unlocking $1.9 billion in total potential proceeds. </li>
<li>This transforms Glenmark into a net-cash company, funds IGI’s R&amp;D pipeline, delays IPO needs, and positions India as a serious biotech innovation hub.</li>
</ul>



Glenmark Pharmaceuticals (GNP IN) signed the world’s fourth-largest biotech licensing deal by upfront value, receiving $700 million from AbbVie for its cancer drug ISB 2001. 
The agreement grants AbbVie global rights for key markets while Glenmark retains Emerging Market access, unlocking $1.9 billion in total potential proceeds. 
This transforms Glenmark into a net-cash company, funds IGI’s R&amp;D pipeline, delays IPO needs, and positions India as a serious biotech innovation hub.


Glenmark’s R&D Leap: How a Large Biotech Liscensing Deal with AbbVie Could Change Its Fortune

External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We visited the company’s head office to gain insights into its vision and growth prospects.</li><li>The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.</li><li>It has signed an MoU with Pfizer and BeiGene for various formulations in India. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We visited the company’s head office to gain insights into its vision and growth prospects.The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.It has signed an MoU with Pfizer and BeiGene for various formulations in India. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Glenmark Pharmaceuticals Ltd - Glenmark Pharmaceuticals Limited - Management Meet

<ul><li>We visited the company’s head office to gain insights into its vision and growth prospects.</li><li>The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.</li><li>It has signed an MoU with Pfizer and BeiGene for various formulations in India. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We visited the company’s head office to gain insights into its vision and growth prospects.The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.It has signed an MoU with Pfizer and BeiGene for various formulations in India. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Glenmark Pharmaceuticals Ltd - Management Meet

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

Aditya Birla Capital Ltd / Index Rebalance

<ul>
<li>There will be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.</li>
<li>Estimated one-way turnover is 64.6% resulting in a round-trip trade of INR 161.3bn (US$1.8bn). There are 27 stocks with over 1x ADV to trade.</li>
<li>Some stocks will have passive flows from other index trackers at the same time while others are potential adds/close adds to global indices over the next couple of months.</li>
</ul>


There will be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.
Estimated one-way turnover is 64.6% resulting in a round-trip trade of INR 161.3bn (US$1.8bn). There are 27 stocks with over 1x ADV to trade.
Some stocks will have passive flows from other index trackers at the same time while others are potential adds/close adds to global indices over the next couple of months.


NIFTY200 Momentum30 Index Rebalance: Huge Turnover and Flow in December

<ul>
<li>There could be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.</li>
<li>If all changes are on expected lines, one-way turnover is estimated at 64.2% and that will result in a round-trip trade of INR 163bn (US$1.8bn).</li>
<li>The adds have outperformed the deletes in the short-term. With the index based on momentum, there could be further gains over the next couple of weeks.</li>
</ul>


There could be 19 constituent changes for the Nifty200 Momentum 30 Index that will be implemented at the close on 30 December.
If all changes are on expected lines, one-way turnover is estimated at 64.2% and that will result in a round-trip trade of INR 163bn (US$1.8bn).
The adds have outperformed the deletes in the short-term. With the index based on momentum, there could be further gains over the next couple of weeks.


NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

India

Glenmark Pharmaceuticals Ltd., is a pharmaceutical company. The Company develops generic drugs for inflammation, metabolic disorders, and pain.

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Glenmark Pharmaceuticals (GNP IN)

Glenmark’s R&D Leap: How a Large Biotech Liscensing Deal with AbbVie Could Change Its Fortune

Glenmark Pharma signs a $700M deal with AbbVie for a cancer drug, unlocking $1.9B in potential proceeds and positioning India as a biotech hub.

Sudarshan Bhandari

Glenmark Pharmaceuticals Ltd - Glenmark Pharmaceuticals Limited - Management Meet

The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.

Axis Direct

Glenmark Pharmaceuticals Ltd - Management Meet

We visited the company’s head office to gain insights into its vision and growth prospects. The company is projected to outpace IPM growth by 1.5x...

Axis Direct

NIFTY200 Momentum30 Index Rebalance: Huge Turnover and Flow in December

There are 19 changes for the index in Dec. Estimated one-way turnover is 64.6% resulting in a round-trip trade of INR 161.3bn (US$1.8bn). There are...

Brian Freitas

NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

We forecast 19 changes for the index in Dec. One-way turnover is estimated at 64.2% resulting in a round-trip trade of INR 163bn (US$1.8bn). The...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Glenmark’s R&D Leap: How a Large Biotech Liscensing Deal with AbbVie Could Change Its Fortune

​Glenmark Pharma signs a $700M deal with AbbVie for a cancer drug, unlocking $1.9B in potential proceeds and positioning India as a biotech hub.

Sudarshan Bhandari

Glenmark Pharmaceuticals Ltd - Glenmark Pharmaceuticals Limited - Management Meet

The company is projected to outpace IPM growth by 1.5x in FY25, with a 15% CAGR expected in the topline between FY25-27.

Axis Direct

Glenmark Pharmaceuticals Ltd - Management Meet

We visited the company’s head office to gain insights into its vision and growth prospects. The company is projected to outpace IPM growth by 1.5x...

Axis Direct

NIFTY200 Momentum30 Index Rebalance: Huge Turnover and Flow in December

There are 19 changes for the index in Dec. Estimated one-way turnover is 64.6% resulting in a round-trip trade of INR 161.3bn (US$1.8bn). There are...

Brian Freitas

NIFTY200 Momentum30 Index Rebalance Preview: 64% One-Way Turnover & US$1.8bn Trade

We forecast 19 changes for the index in Dec. One-way turnover is estimated at 64.2% resulting in a round-trip trade of INR 163bn (US$1.8bn). The...

Brian Freitas

Glenmark Pharma signs a $700M deal with AbbVie for a cancer drug, unlocking $1.9B in potential proceeds and positioning India as a biotech hub.