Buy Torrent Pharmaceuticals Ltd., target Rs 1672.0 : Deutsche Bank Research

Deutsche Bank Research has a buy call on Torrent Pharmaceuticals Ltd. with a target price of Rs 1672. The current market price of Torrent Pharmaceuticals Ltd. is Rs 1444. Time period given by analyst is year, when Torrent Pharmaceuticals Ltd. price can reach defined target. There were no surprises in Q1, but the outlook for its Brazil business has improved. A strong growth in Brazil has offset sluggish growth recorded in India, the global investment bank said. The US base business grew by a low double-digit, which was aided by gDetrol and gNexium. The company management expects 15-20 ANDA filings and around 10 launches in FY17, which will be positive.