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Buy Torrent Pharmaceuticals; target of Rs 1730: ICICI Direct

ICICI Direct is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 1730 in its research report dated September 28, 2022.

September 29, 2022 / 05:53 PM IST
 
 
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ICICI Direct's research report on Torrent Pharmaceuticals


Incorporated in 1959, Torrent remains a key play in branded generics (~60% of sales) with a strong India franchise and growing exports traction. Revenues: India & CRAMs (57%), Brazil (9%), US (13%) and Germany (11%) • Torrent is the eighth largest domestic player and is ranked in top 10 for CVS, CNS, V&M, GI and anti-diabetes therapies in India.


Outlook


Valued at Rs 1730 i.e. 37x P/E on FY24E EPS of Rs 46.7.


More Info


At 16:01 hrs Torrent Pharmaceuticals was quoting at Rs 1,547.05, up Rs 52.15, or 3.49 percent.


It has touched an intraday high of Rs 1,554.00 and an intraday low of Rs 1,494.05.


It was trading with volumes of 13,710 shares, compared to its thirty day average of 13,862 shares, a decrease of -1.09 percent.


In the previous trading session, the share closed down 2.52 percent or Rs 38.70 at Rs 1,494.90.


The share touched its 52-week high Rs 1,652.23 and 52-week low Rs 1,242.50 on 31 December, 2021 and 12 May, 2022, respectively.


Currently, it is trading 6.37 percent below its 52-week high and 24.51 percent above its 52-week low.


Market capitalisation stands at Rs 52,359.20 crore.


For all recommendations report, click here


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Torrent Pharmaceuticals - 290922 - icici

Broker Research
first published: Sep 29, 2022 05:53 pm