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
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.
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
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