Hold Torrent Pharmaceuticals: target of Rs 3100: Sharekhan
Sharekhan recommended hold rating on Torrent Pharmaceuticals with a target price of Rs 1800 in its research report dated February 08, 2021.
February 11, 2021 / 01:06 PM IST
Sharekhan's research report on Torrent Pharmaceuticals
Torrent has reported a healthy performance for the quarter, largely backed by a growth in the domestic and Europe business, while the US and the Brazil business continued to remain under pressure. Going ahead the outlook for the India business is healthy and the company expects to outperform the industry growth backed by price increase and new product launches. Europe business too is on the path to improvement. Lack of new launches, price erosion, OAL/WL status at Indrad Dahej & US plant could drag the US business, while adverse currency movements to impact growth in Brazil business.
We retain Hold recommendation on Torrent Pharmaceuticals Limited (Torrent) with a revised PT of Rs 3100.
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