Trends on SGX Nifty indicate a negative opening for the broader index in India, with a 51 points loss or 0.45 percent. Nifty futures were trading around 11,287-level on the Singaporean Exchange.
The company does not believe that the warning letter will have an impact of disruption of supplies or the existing revenues from operations of this facility, it added.
ICICI Direct is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 1750 in its research report dated July 24, 2019.
Sharekhan recommended Hold rating on Torrent Pharmaceuticals with a target price of Rs 1720 in its research report dated July 23, 2019.
Nomura expects Torrent to record strong cash flow generation over the next three years
The company had posted a net profit of Rs 163 crore for the corresponding period of the previous financial year, Torrent Pharmaceuticals said in a filing to the BSE.
Sharekhan recommended hold rating on Torrent Pharmaceuticals with a target price of Rs 1720 in its research report dated July 18, 2019.
Company does not believe that this inspection classification will have an impact on supplies or the revenues from operations of this facility
The company, however, did not disclose financial details of the licensing agreement.
The research house maintained an outperform call on the stock with a target price at Rs 1,750 per share, implying a 14 percent potential upside from current level.
ICICI Direct is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 1940 in its research report dated May 21, 2019.
Torrent Pharma said these observations are procedural in nature and it is confident of addressing them satisfactorily.
Net Sales are expected to increase by 14.7 percent Y-o-Y (down 3.7 percent Q-o-Q) to Rs. 1,975.8 crore, according to Kotak.
Consolidated revenue from operations stood at Rs 2,051 crore for the quarter, against Rs 1,463 crore a year ago.
According to an announcement made by Torrent to the US Food and Drug Administration on January 22, the impurity detected in the API is N-nitrosodiethylamine (NDEA).
It can be bought at current levels and on dips to Rs 1,860 with a stop loss below Rs 1,780 for the target of Rs 2,050, says Ashish Chaturmohta of Sanctum Wealth Management.
On the upside, the index has resistance zone in the region of 10840-10870 levels. But, crossing above 11000 levels on a sustainable basis will confirm the uptrend.
The issued unsecured redeemable non-convertible debentures were worth Rs 500 crore.
ICICI Direct is bullish on Torrent Pharmaceuticals has recommended buy rating on the stock with a target price of Rs 1850 in its research report dated November 05, 2018.