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Last Updated : Oct 31, 2019 04:15 PM IST | Source: Moneycontrol.com

Hold Torrent Pharmaceuticals; target of Rs 1720: Sharekhan

Sharekhan recommended hold rating on Torrent Pharmaceuticals with a target price of Rs 1720 in its research report dated October 23, 2019.

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Sharekhan's research report on Torrent Pharmaceuticals


Torrent Pharmaceuticals Limited (Torrent Pharma) reported a strong set of numbers for Q2FY2020. USFDA issued a warning letter to Indrad Facility while it has classified Dahej Facility under OAI; Although FY2020 numbers may not be impacted, future product approvals from this facility could be delayed. However, we feel uncertainty related to USFDA outcome of OAI for Dahej and warning letter issued to Indrad facility are likely to remain an overhang in the near term. Torrent’s Sales and Profits are expected to grow by 17% and 43% CAGR respectively over next 2 years.


Outlook


we maintain our Hold recommendation on the stock with an unchanged PT of Rs. 1,720.


For all recommendations report, click here


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First Published on Oct 31, 2019 04:15 pm
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