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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.


Outlook


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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