ICICI Direct has given Hold recommendation for Torrent Pharmaceuticals with a target price of Rs. 3250 in its research report issued on Jul 28, 2021

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 top 10 for CVS, CNS, V&M, GI and anti-diabetes therapies in India


We change our rating from BUY to HOLD on the stock given recent run up We value Torrent at Rs 3250 i.e. 32x P/E on FY23E EPS



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