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Hold Torrent Pharmaceuticals; target of Rs 1720: Sharekhan

Sharekhan recommended Hold rating on Torrent Pharmaceuticals with a target price of Rs 1720 in its research report dated July 23, 2019.

July 24, 2019 / 03:23 PM IST
 
 
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Sharekhan's research report on Torrent Pharmaceuticals

Q1FY2020 quarterly operating performance of Torrent Pharmaceuticals Limited was better than our expectations and is sustainable. USFDA classified Dahej Facility under OAI; Although FY2020 numbers may not be impacted, future product approvals from this facility could get delayed. USFDA response is awaited. We expect the company to report sales and adjusted profit CAGR of 17% and 43%, respectively, over FY2019-FY2021E.

Outlook

We maintain our Hold recommendation on the stock with unchanged PT of Rs. 1,720.

For all recommendations report, click here

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Broker Research
first published: Jul 24, 2019 03:23 pm

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