Paytm, Glenmark Pharma — Top Picks By Rajesh Palviya

Rajesh Palviya, senior vice president of technical and derivatives research at Axis Securities, has recommended two stocks for investors—Paytm operator One97 Communications Ltd. and Glenmark Pharmaceuticals Ltd. Here’s a detailed look at each of these companies and why they are considered top picks.

Palviya recommends buying Paytm at Rs 877, with a stop loss at Rs 865 and a target price of Rs 900.

Founded in 2010 by Vijay Shekhar Sharma under One97 Communications, Paytm is headquartered in Noida, India. The company offers a wide range of services, including mobile payments, bill payments, ticketing services, and financial products such as microcredit and buy now, pay later options.

The company has also expanded into areas like retail brokerage and online games. One97 Communications was listed on the Indian stock exchanges in November 2021, after an initial public offering, which was the largest in India at the time

Palviya also recommends buying Glenmark Pharma at Rs 1,406 with a stop loss at Rs 1,387 and target price at Rs 1,445.

Glenmark Pharmaceuticals is an Indian multinational pharmaceutical company headquartered in Mumbai. Founded in 1977 by Gracias Saldanha, Glenmark initially focused on generic drugs and active pharmaceutical ingredients. Over the years, the company has expanded its operations globally and now has a presence in over 50 countries.

The company operates 14 manufacturing facilities across four countries and has four R&D centers. Glenmark's commitment to innovation has led to the development of advanced therapies aimed at improving the quality of life for patients worldwide. The company went public in India in 1999 and has since grown to become one of the leading pharmaceutical companies in the country.

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