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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 October 26, 2021.

October 27, 2021 / 04:33 PM IST
 
 
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Sharekhan's research report on Torrent Pharmaceuticals


Torrent Pharmaceuticals Limited (Torrent) reported steady growth for Q2FY2022, though PAT missed estimates due to higher tax rate. The company derives ~60% of its sales collectively from Indian and Brazilian markets and management sees these two geographies as key growth drivers. Performance of the US business could be under pressure impacted by price erosion and absence of new launches.


Outlook


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


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Oct 27, 2021 04:31 pm

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