Buy Torrent Pharmaceuticals; target of Rs 1820: Sharekhan

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

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Sharekhan's research report on Torrent Pharmaceuticals

Torrent Pharmaceuticals Limited (Torrent) reported healthy performance for Q1 and the results are ahead of estimates. Performance reflected the double digit growth in Brazil, India business. Torrent sees a healthy outlook for India as well as the Brazil business, backed by expanding reach, market share gains, new product pipeline. It aims to outpace the Industry growth in both these markets. The US business is witnessing heightened competitive intensity and price erosion, thus pressurising US sales. Europe sales likely to improve gradually over the next quarter.

Outlook

Given better growth prospects across Indian and Brazilian businesses, we retain our Buy recommendation on the stock of with a revised PT of Rs 1820.

For all recommendations report, click here

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Torrent Pharmaceuticals -010822 - khan