Sharekhan recommended hold rating on Torrent Pharmaceuticals with a target price of Rs 1720 in its research report dated July 18, 2019.
Sharekhan's research report on Torrent Pharmaceuticals
USFDA classifies Dahej facility under OAI; Although existing operations are not impacted, future product approvals from this facility could get delayed. We expect Q1FY2020 to be a good quarter due to operational leverage from the acquired domestic business. We expect Torrent Pharma to report sales and adjusted profit CAGR of 17% and 43%, respectively, over FY2019-FY2021E.
We maintain our Hold recommendation on Torrent Pharmaceuticals Limited (Torrent Pharma) with unchanged PT of Rs. 1,720.
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