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Buy Torrent Pharmaceuticals: target of Rs 3400: Sharekhan

Sharekhan is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 3400 in its research report dated July 27, 2021.

July 29, 2021 / 01:46 PM IST
 
 
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Sharekhan's research report on Torrent Pharmaceuticals


Torrent Pharmaceuticals Limited reported steady numbers for Q1FY22, though PAT missed estimates due to a higher tax rate. The company derives ~60% of its sales collectively from the Indian and Brazil markets and the management sees these two geographies as key growth drivers. The Dahej and Indrad plants are under the USFDA’s scrutiny and post clearance, the company looks to launch 12-15 new products annually from the plants.



Outlook


Given the strong growth outlook across Indian and Brazilian business, we retain a Buy recommendation on the stock with an unchanged PT of Rs 3,400.

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For all recommendations report, click here


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first published: Jul 29, 2021 01:46 pm
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