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    HomeNewsBusinessStocksHold Torrent Pharma; target of Rs 1560: Religare

    Hold Torrent Pharma; target of Rs 1560: Religare

    Religare recommended hold rating on Torrent Pharma with a target price of Rs 1560 in its research report dated July 27, 2016.

    July 29, 2016 / 12:48 IST

    Religare's research report on Torrent Pharma

    TRP’s Q1FY17 earnings missed our/consensus estimates by 9-12% due to weak domestic growth and price erosion in gAbilify. However, the Brazilian business rebounded strongly with a 21% YoY growth – the highest in last 2-3 years. Also, the US base business (ex-gAbilify) posted low double-digit growth despite price erosion (5-7%). Normalisation in India sales and improved EU and US businesses led by higher Dahej capacity should partly offset the erosion in gAbilify revenues. Maintain HOLD; Mar’17 TP Rs 1,560.For all recommendations, click hereDisclaimer: 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.

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    first published: Jul 29, 2016 12:48 pm

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