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Buy Torrent Pharmaceuticals; target of Rs 3235: ICICI Direct

ICICI Direct is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 3235 in its research report dated May 26, 2022.

May 30, 2022 / 07:10 PM IST
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ICICI Direct's research report on Torrent Pharmaceuticals

Incorporated in 1959, Torrent has a strong presence in domestic and semi-regulated markets and a growing presence in regulated markets. Revenues – India including 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.


Upgrade from HOLD to BUY due to 1) good traction in branded business with India, Brazil growth prospects looking solid, Valued at Rs 3235 i.e. 30x P/E on FY24E EPS of Rs 107.8.

For all recommendations report, click here


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first published: May 30, 2022 07:10 pm
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