Zomato Secures Shareholder Approval for Name Change to Eternal

Zomato has received shareholder approval to change its name to Eternal Ltd., as per the news. This includes necessary amendments to the Memorandum of Association (MoA) and Articles of Association (AoA). Over 99% of votes were in favour of the resolution, with only 0.25% against it.

As of today, March 10, 2:41 PM, Shares of Zomato Ltd. were trading at ₹212.60, down 1.95% for the day, declining 20.58% over the past six months, but still up 37.29% in the past year.

Business Structure Under Eternal Ltd.

The name change applies to the parent entity, while individual businesses will continue operating under their existing brands. The four businesses under Eternal Ltd. include:

  • Zomato – Food delivery
  • Blinkit – Quick-commerce
  • District – Going-out services
  • Hyperpure – B2B grocery for restaurants

The corporate website will now shift from zomato.com to eternal.com, and the stock ticker will change from ZOMATO to ETERNAL once the transition is finalized.

Financial Performance

For Q3 FY25, Zomato reported a 57% decline in net profit, falling to ₹59 crore from ₹138 crore in the same quarter last year. Revenue from operations, however, rose by 64% year-on-year, reaching ₹5,404 crore compared to ₹3,288 crore in Q3 FY24.

Background of the Name Change

The company had already been using the name Eternal internally following its acquisition of Blinkit in 2022. The quick-commerce platform was acquired in an all-stock deal worth $568 million. 

CEO Deepinder Goyal previously mentioned that the rebranding was considered once businesses beyond food delivery became a key part of the company’s future.

Conclusion

All in all, the company’s food delivery platform will continue operating under the Zomato brand, while the parent entity transitions to Eternal Ltd. The stock ticker change is pending implementation. Further updates on the transition are expected in the coming months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Top 5 Low-Cost Gold ETFs in India with SIPs Starting from ₹99

Gold prices in India have seen a remarkable rise over the past few years. Since March 2020, 24-carat gold prices have more than doubled. This surge has driven investors towards various gold-linked investment options, with gold exchange-traded funds (ETFs) emerging as a preferred choice.

Gold ETFs offer a convenient alternative to physical gold, eliminating concerns about storage, theft, and security risks. These funds have gained popularity among investors looking for portfolio stability and inflation protection.

The key differentiating factor among gold ETFs is the expense ratio—the cost of managing the fund. A lower expense ratio reduces investment costs and potentially increases long-term returns.

Overview of Top 5 Low-Cost Gold ETFs in India

Investors looking for cost-effective gold ETFs can consider the following options, ranked based on their expense ratios.

1. Invesco India Gold ETF FoF Direct

  • Expense Ratio: 0.10% (as of February 28, 2025)
  • Minimum Investment: ₹1,000
  • Minimum Additional Investment: ₹1,000
  • Minimum SIP Investment: ₹500

2. Tata Gold ETF FoF Direct

  • Expense Ratio: 0.17% (as of March 3, 2025)
  • Minimum Investment: ₹5,000
  • Minimum Additional Investment: ₹1,000
  • Minimum SIP Investment: ₹150

3. Mirae Asset Gold ETF FoF Direct

  • Expense Ratio: 0.17% (as of February 28, 2025)
  • Minimum Investment: ₹5,000
  • Minimum Additional Investment: ₹1,000
  • Minimum SIP Investment: ₹99

4. HDFC Gold ETF Fund of Fund Direct

  • Expense Ratio: 0.18% (as of February 28, 2025)
  • Minimum Investment: ₹100
  • Minimum Additional Investment: ₹100
  • Minimum SIP Investment: ₹100

5. UTI Gold ETF FoF Direct

  • Expense Ratio: 0.19% (as of March 4, 2025)
  • Minimum Investment: ₹5,000
  • Minimum Additional Investment: ₹1,000
  • Minimum SIP Investment: ₹500

What Are Gold ETFs and How Do They Work?

Gold ETFs allow investors to hold gold in an electronic form, similar to trading stocks on the exchange. Unlike equity mutual funds, where investors compare past returns before investing, gold ETFs track gold prices directly. This means their returns align closely with the movement of gold prices.

What Are FoF ETFs?

A Fund of Funds (FOF) in an Exchange Traded Fund (ETF) is a mutual fund that puts its money into ETF units instead of directly buying stocks or bonds

Final Thoughts

With rising gold prices, many investors are shifting towards gold ETFs for ease of investment and security. Since these funds mirror gold price movements, the key consideration while choosing a gold ETF is its expense ratio. Lower costs can help investors maximise potential returns in the long run.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Mutual Fund investments in the securities market are subject to market risks, read all the related documents carefully before investing.

RBI’s Buy-Sell Swap Strategy: Encouraging Overseas Borrowing by Indian Corporates

The Reserve Bank of India (RBI) has been actively conducting USD/INR buy-sell swaps to infuse durable liquidity into the banking system. This strategy has had a ripple effect on corporate borrowing, making external funding more attractive for Indian businesses.

A buy-sell swap involves the RBI purchasing US dollars in the spot market while simultaneously selling them in the forward market. This operation injects liquidity into the system and influences forward premia—an important factor in the cost of hedging currency risk for corporates borrowing in foreign currencies.

Reduces Borrowing Costs Indian Corporates 

One of the key impacts of the RBI’s buy-sell swaps has been the decline in USD/INR forward premia. The 1-year dollar-rupee forward premium dropped to 2.13% in October from a high of 2.71% in early January. A lower forward premium reduces the cost of currency hedging for Indian corporates borrowing in international markets, effectively lowering their overall borrowing costs.

For Indian businesses, especially those with international expansion plans or significant foreign currency obligations, this makes external commercial borrowings (ECBs) a more viable option compared to domestic lending.

Impact on Forex Reserves and Liquidity

India’s foreign exchange reserves have seen fluctuations due to RBI interventions aimed at managing rupee volatility. By encouraging corporates to raise funds from overseas markets, buy-sell swaps bring in fresh foreign capital, indirectly supporting forex reserves.

So far, the RBI has conducted buy-sell swaps worth $15 billion and has announced an additional $10 billion in swaps. These measures are part of a broader strategy to address a liquidity deficit that has persisted for 11 consecutive weeks.

Additionally, these swaps help the RBI extend the maturities of its forward book. The central bank currently holds net short positions worth $77.5 billion, a substantial portion of which is due within three months. Managing these maturities effectively helps stabilise market conditions.

Why NBFCs are Tapping Overseas Markets

Non-banking financial companies (NBFCs) have been increasingly turning to external commercial borrowings following the RBI’s decision in November 2023 to raise risk weights on bank lending to NBFCs. This regulatory change has prompted NBFCs to diversify their funding sources, making overseas borrowing a more attractive option.

According to RBI data, during April-December 2024, the share of effectively hedged external commercial borrowings—including explicitly hedged loans, rupee-denominated loans, and loans from foreign parent entities—rose to 78.1% from 61.6% in the previous year. This shift has helped mitigate interest rate and exchange rate risks associated with foreign borrowings.

Conclusion

The RBI’s buy-sell swap strategy is playing a crucial role in reshaping corporate funding dynamics in India. By lowering hedging costs and reducing forward premia, the central bank is indirectly incentivising businesses to raise capital from overseas markets. This, in turn, enhances liquidity, strengthens forex reserves, and helps manage financial market stability. While this strategy aligns with broader monetary policy goals, its long-term impact will depend on global interest rate movements and economic conditions.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Check Gold and Silver Prices in Your City on March 10

On March 10, 2025, gold prices increased both in the international and domestic markets. Internationally, gold has gained 0.12%, trading above the key psychological level of $2,900, at $2,911.94 as of 12:03 PM.

In India, gold prices have increased by ₹170 per 10 grams across major cities.

  • Mumbai: 24-carat gold is priced at ₹8,615 per gram, while 22-carat gold costs ₹7,897 per gram. The 24-carat gold price stands at ₹86,150 per 10 grams.
  • Delhi: 22-carat gold is priced at ₹78,843 per 10 grams, while 24-carat gold trades at ₹86,010 per 10 grams.

Gold Prices Across Major Indian Cities (March 10, 2025)

Here is a detailed breakdown of gold prices as of March 10, 2025:

City 24 Carat Gold (per 10gm in ₹) 22 Carat Gold (per 10gm in ₹)
Chennai 86,400 79,200
Hyderabad 86,290 79,009
Delhi 86,010 78,843
Mumbai 86,150 78,971
Bangalore 86,220 79,035

Silver Prices in India on March 10, 2025

The international silver price has declined by 0.20% to $32.44 as of 12:03 PM. However, in India, silver prices have increased by ₹240 per kg.

Silver Prices Across Major Indian Cities

City Silver Rate in ₹/KG 
Mumbai 97,460
Delhi 97,290
Kolkata 97,330
Chennai 97,740

Key Takeaways

  • Gold Prices: Both 22-carat and 24-carat gold prices have increased in major Indian cities, while international gold prices have also risen.
  • Silver Prices: Silver prices have declined in the international market but have increased domestically.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

SPML Infra Hits Upper Circuit; Secures ₹617.98 Crore Irrigation Project in Jharkhand

SPML Infra Limited’s share price hit the upper circuit following the announcement of a new agreement with the Water Resource Department, Hazaribagh, for a large-scale ₹617.98 crore irrigation project under the Konar Irrigation Project.

The project, awarded in partnership with Vijay Kumar Mishra Construction, aims to enhance irrigation infrastructure across 12,599.43 hectares of agricultural land in Hazaribagh, Bokaro, and Giridih districts in Jharkhand. This contract win has fueled investor optimism, driving the stock to its upper circuit limit.

Scope of the Project: Strengthening Irrigation Infrastructure

This turnkey project involves:

  • Reconstruction and Repair: Strengthening of main canals, right branch canals, and related distributaries, sub-distributaries, and minor canals.
  • Pipeline Network: A pressure pipe water conveyance system using MS, DI, and HDPE pipes (up to 1200 mm in diameter), integrated with an advanced Pipe Distribution Network (PDN) and control mechanisms.
  • Canal Lining & Approach Channel: Enhancing water conservation and distribution efficiency.
  • Solar-Powered Pump House & Sump: Incorporating renewable energy solutions for sustainable water management.
  • Supporting Infrastructure: Development of boundary walls, approach roads, and service roads to facilitate seamless operations.

Long-Term Sustainability with 10-Year O&M Phase

To ensure operational efficiency, the project includes a 10-year post-construction Operation, Maintenance, and Management (O&M) phase. This commitment ensures the long-term sustainability and functionality of the irrigation network.

SPML Infra’s Vision for Water Management

Commenting on the development, Mr Subhash Sethi, Chairman of SPML Infra Limited, stated: “We are proud to contribute to Jharkhand’s irrigation infrastructure. This project aligns with our vision to enhance agricultural productivity and improve farmers’ livelihoods. By leveraging advanced technology and efficient execution, we aim to complete this project within the stipulated timeline while ensuring high standards of quality and reliability.”

About SPML Infra Ltd.

SPML Infra Limited is a leading player in India’s water management sector, with over 44 years of experience and 700+ infrastructure projects executed. The company has played a significant role in providing clean drinking water to over 50 million people in both urban and rural India.

Ranked 14th among the World’s Top 50 Private Water Companies by Global Water Intelligence, London, SPML Infra’s expertise spans:

  • Drinking water supply
  • Wastewater treatment and sewerage networks
  • Municipal waste management
  • Power transmission and rural electrification
  • Smart city infrastructure

With strong investor sentiment and a robust pipeline of projects, SPML Infra continues to expand its role in water and irrigation solutions across the country.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

₹25 Lakh Gift from Parents: Do I Need to Pay Tax?

Gifting money or property to family members is a common practice in India, but many individuals are unsure about the tax implications of such transactions. If you receive a monetary gift of ₹25 lakh from your parents, do you have to pay tax on it? Let’s break down the rules under the Income Tax Act.

Is a Gift from Parents Taxable?

Under Section 56(2)(x) of the Income Tax Act, any sum of money or property received as a gift is subject to taxation unless it falls under specific exemptions. Fortunately, gifts received from relatives—including parents—are completely tax-free.

Thus, if your parents gift you ₹25 lakh, you will not have to pay any tax on it. However, it is advisable to maintain proper documentation to avoid any future tax scrutiny.

Importance of a Gift Deed

While it is not mandatory to draft a gift deed, it is a good practice to create one. A gift deed should include:

  • The amount gifted
  • The relationship between the donor (parent) and the recipient (you)
  • A declaration that the gift is given voluntarily and is irrevocable
  • The mode of transfer (preferably bank transfer for a clear financial trail)

Maintaining a gift deed can help in case of any future queries from the tax department.

Who Qualifies as a ‘Relative’ for Tax-Free Gifts?

Section 56(2)(x) defines relatives whose gifts are exempt from tax. For an individual, these include:

  • Spouse
  • Siblings
  • Siblings of the spouse
  • Siblings of either parent
  • Lineal ascendants and descendants (grandparents, children, grandchildren, etc.)
  • Lineal ascendants and descendants of the spouse
  • Spouses of all the above-mentioned relatives
  • Hindu Undivided Family (HUF) members

However, friends are not considered relatives. If you receive a gift from a friend exceeding ₹50,000, it will be treated as taxable income under the head ‘Income from Other Sources’.

Other Scenarios Where Gifts Are Exempt from Tax

Apart from gifts received from parents and relatives, certain other categories of gifts are also exempt from taxation:

  1. Gifts Received During Marriage
    • Any gift received by an individual on their wedding day, regardless of the amount or source, is completely tax-free.
  2. Inheritance and Will-Based Gifts
    • Any assets received through a will or inheritance are not subject to tax.
  3. Gifts Received in Contemplation of Death
    • Gifts given by a terminally ill donor anticipating death in the near future are also exempt from taxation.
  4. Movable Personal Effects
    • The sale of personal effects such as vehicles, furniture, and fixtures is not taxable. However, shares, securities, jewellery, artwork, and bullion are taxable unless exempted under other provisions.

Taxable Gifts: When Do You Have to Pay Tax?

Although gifts from parents and certain other categories are tax-free, there are situations where gift tax is applicable:

  • Gifts received from non-relatives exceeding ₹50,000 in a financial year are fully taxable.
  • Gifts received on birthdays or anniversaries from non-relatives do not qualify for exemptions.
  • Gifts in the form of shares, securities, jewellery, and other specified assets from non-relatives will be subject to tax.

Conclusion

If your parents gift you ₹25 lakh, you will not have to pay any tax on it, as per Section 56(2)(x). However, to ensure smooth documentation and avoid future tax queries, it is recommended to maintain a gift deed and ensure the transaction happens via a bank transfer. Understanding the tax implications of gifts can help you plan your finances better and stay compliant with income tax laws.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Sensex Trading at 19% Discount to Dow Jones; Here’s the Reason

As of 10:33 AM on March 10, 2025, the BSE Sensex was trading 245 points higher above the 74,570 level. Despite the positive movement, the valuation of the index remains subdued, with its price-to-earnings (PE) ratio at 20.69x as of March 7, 2025. This is a notable drop from its September 26, 2024 high of 25.20x.

The primary reason behind this decline has been consistent selling by foreign institutional investors (FIIs), coupled with uncertainties surrounding trade wars, leading to a correction from higher levels.

Sensex Trading at a Discount to Dow Jones

As of March 10, 2025, the BSE Sensex PE ratio stands at 20.69x, significantly lower than the Dow Jones Industrial Average (DJIA) PE ratio of 25.64x. This translates to a 19% discount, making the valuation gap between the 2 indices.

Largest Discount to Long-Term Average Post 2008

At current levels, the Sensex is trading at a 14% discount to its 10-year moving average of 23.6x. This is the largest such discount since the 2008 global financial crisis when the index traded at a 34% discount to its long-term average.

A similar valuation gap was seen during the dot-com bubble burst in 2000, after which the index continued to trade at a discount to its 10-year average for nearly three years (October 2000 – September 2003).

Historical Trends: Market Bottoms and Recovery

Over the past 25 years, the Sensex has typically traded at a 6% premium to its 10-year moving average. However, whenever the index breached its long-term average, it signalled a potential market bottom, leading to a rebound.

Notable instances where the 10-year moving average coincided with market recoveries include:

  • 2006
  • 2012 & 2013
  • 2016
  • 2020
  • 2022

This historical pattern indicates that while markets undergo valuation corrections, they often recover when trading below their long-term average.

Sensex Valuation vs Dow Jones: Understanding the Gap

Despite the discount in valuation, the BSE Sensex remains cheaper compared to the US benchmark index Dow Jones, which is currently trading at a PE ratio of 25.64x.

One of the key reasons for this valuation gap is the strong corporate earnings growth in the US. In the October-December 2024-25 (FY25) quarter, corporate earnings in the US surged 16% year-on-year, whereas India recorded a comparatively lower 6% growth.

Looking ahead:

  • The US market is expected to witness similar earnings growth in CY 2025.
  • In contrast, India’s earnings growth projection for FY26 stands at 11%, indicating a slower recovery.

Foreign Investors Shift Focus to US Markets

The relative slowdown in earnings growth in India has resulted in a shift in capital allocation by foreign portfolio investors (FPIs). Institutional investors are increasingly favouring markets with stronger growth prospects, such as the US.

This shift in capital allocation is one of the reasons behind the Sensex trading at a discount to the Dow Jones, despite India’s long-term growth potential.

Final Thoughts

The BSE Sensex trading at a significant discount to its long-term average is a rare occurrence, with past trends indicating that such phases have typically preceded a market rebound. However, factors such as corporate earnings growth and global capital flows continue to influence valuations, making it essential to observe how these trends unfold in the coming months.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nifty Bank Recovers from Lower Levels, Aided by ICICI Bank, Axis Bank & SBI

The Nifty Bank Index consists of the most liquid and large Indian banking stocks, serving as a key benchmark for tracking the performance of the banking sector in the Indian capital market. The index includes a maximum of 12 companies listed on the National Stock Exchange of India (NSE).

Intraday Performance on March 10, 2025

The Nifty Bank Index opened in negative territory on March 10, 2025, slipping below the March 6 low of 48,299.40 and reaching an intraday low of 48,285 in early trade. However, buying interest at lower levels helped the index recover, and by 10:17 AM, it was trading above the 48,400 mark with marginal losses of 0.11% or 55 points.

Top Contributors and Laggards

  • Top contributors: ICICI Bank, Axis Bank, and SBI provided positive support to the index.
  • Laggards: IndusInd Bank, Kotak Bank, and HDFC Bank weighed down the index.
  • The advance-decline ratio favoured declines, with 8 stocks in the red compared to 4 stocks in the green.

Monthly and Year-to-Date (YTD) Performance

  • February 2025: The index recorded its steepest monthly loss of 2.51%, marking its biggest decline in a single month since October 2024.
  • March 2025 (as of March 10): The index is up by 0.27%.
  • YTD Performance: Despite recent recoveries, the index remains down by 4.70% in 2025 so far.

Conclusion

The Nifty Bank Index has shown resilience despite initial weakness on March 10, 2025, recovering from lower levels. However, weak sentiment in February and a negative YTD performance indicate cautious investor behaviour. Going forward, banking sector performance and macroeconomic trends will be crucial in determining the index’s trajectory.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Nifty50 Hits 10-Day High; PE Ratio Back Above 20 but Still Below Historical Averages

The NSE benchmark Nifty50 began the session on a negative note but swiftly recovered after initial volatility. As a result, the index surged to a fresh 10-day high of 22,669 as of 9:54 AM on March 10, 2025.

Currently, the Nifty50 is trading up by 116 points or 0.50% at 22,669.

Top Gainers and Losers in Nifty50

Market Breadth Favors Bulls

The advance-decline ratio indicated a bullish sentiment:

  • 36 stocks were trading in the green
  • 13 stocks were in the red
  • 1 stock remained unchanged

Sectoral Performance: Nifty Metal and Media Lead

Barring Nifty Auto, all other sectoral indices were in positive territory. Nifty Metal and Nifty Media led the gains, rising over 1% each on March 10, 2025.

Nifty50 Nears Key Resistance After a 700-Point Recovery

The index has gained over 700 points from its March 4 low and is now approaching the opening downside gap seen on February 24, 2025.

Nifty50’s PE Ratio Remains Below Historical Averages

During the recent correction, Nifty50’s PE ratio had slipped below 20, hitting a two-year low of 19.63. However, with the latest recovery, the PE ratio has improved to 20.05 as of March 7, 2025.

Despite the rebound, it remains below its 1-month, 3-month, and 6-month averages, as well as its 1-year, 2-year, and 5-year historical averages.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Glenmark Pharma Launches Polyethylene Glycol 3350 in the US

Glenmark Therapeutics Inc., USA, a subsidiary of Glenmark Pharmaceuticals Ltd., has introduced Polyethylene Glycol 3350, Powder for Solution, 17 grams/capful (OTC) in the United States. The product is a generic equivalent of MiraLAX® Powder for Solution by Bayer HealthCare LLC, which is widely used as an osmotic laxative for occasional constipation.

Market Size and Demand

According to reports for a 52-week period ending February 22, 2025, the MiraLAX® Powder for Solution market recorded annual sales of approximately $555.7 million. Glenmark’s entry into this segment comes as an additional supply source in the over-the-counter laxative category.

Polyethylene Glycol 3350 works as an osmotic laxative, drawing water into the colon and aid bowel movements. It is available as an over-the-counter (OTC) product, allowing consumers to access it without a prescription.

Company Statement

Marc Kikuchi, President & Business Head, North America at Glenmark, stated: “We are excited to announce the launch of Polyethylene Glycol 3350, Powder for Solution, 17 grams/capful, addressing the growing demand for a new supplier in this category.”

Financials & Market Performance

Glenmark Pharmaceuticals operates in over 80 countries with 11 manufacturing facilities across four continents. The company reported a net profit of ₹348 crore in Q3 FY25, compared to a net loss of ₹449.6 crore in Q3 FY24. Revenue from operations grew 35.1% year-on-year (YoY) to ₹3,387.6 crore for the quarter ending December 31, 2024.

As of March 10, 2025, at 10:50 AM, Glenmark Pharmaceuticals Ltd. was trading at ₹1,398.15, down ₹6.25 (0.45%) for the day. Over the past six months, the stock has declined by 19.08%, but it remains up 46.36% over the past year.

Conclusion 

In conclusion, Glenmark’s Polyethylene Glycol 3350, Powder for Solution will now be available in the U.S. OTC market as a generic alternative to MiraLAX®.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.