Hold Torrent Pharmaceuticals; target of Rs 3235: ICICI Direct

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ICICI Direct's research report on Torrent Pharmaceuticals

Incorporated in 1959, Torrent has a strong presence in domestic and semi-regulated markets and a growing presence in regulated markets. Revenues – India including CRAMs (53%), Brazil (8%), US (16%) and Germany (13%) • Torrent is the eighth largest domestic player and is ranked in the top 10 for CVS, CNS, V&M, GI and anti-diabetes therapies in India.

Outlook

Maintain HOLD rating given the visible persisting challenges in the US business besides lower margin of safety (maintaining margins at high level) given high valuation. We value Torrent at Rs 3235 i.e. 28x P/E on FY24E EPS of Rs 115.5.

More Info

At 17:30 Torrent Pharmaceuticals was quoting at Rs 2,656.60, up Rs 4.45, or 0.17 percent.

It has touched an intraday high of Rs 2,723.95 and an intraday low of Rs 2,621.00.

It was trading with volumes of 14,502 shares, compared to its thirty day average of 7,999 shares, an increase of 81.29 percent.

In the previous trading session, the share closed down 16.09 percent or Rs 508.40 at Rs 2,652.15.

The share touched its 52-week high Rs 3,304.45 and 52-week low Rs 2,311.30 on 31 December, 2021 and 19 March, 2021, respectively.

Currently, it is trading 19.61 percent below its 52-week high and 14.94 percent above its 52-week low.

Market capitalisation stands at Rs 44,955.71 crore.

For all recommendations report, click here

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