Buy Torrent Pharmaceuticals, target price Rs 2990: HDFC Securities

HDFC Securities has buy call on Torrent Pharmaceuticals with a target price of Rs 2990. The current market price of Torrent Pharmaceuticals is Rs 2882.15.
Time period given by analyst is Intra Day when Torrent Pharmaceuticals Ltd. price can reach defined target.

Torrent Pharmaceuticals Ltd., incorporated in the year 1972, is a Large Cap company (having a market cap of Rs 48799.60 Crore) operating in Pharmaceuticals sector.


Torrent Pharmaceuticals Ltd. key Products/Revenue Segments include Pharmaceuticals, Other Operating Revenue and Export Incentives for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-03-2022, the company reported a Consolidated Total Income of Rs 2187.00 Crore, up 1.44 % from last quarter Total Income of Rs 2156.00 Crore and up 10.68 % from last year same quarter Total Income of Rs 1976.00 Crore. Company reported net profit after tax of Rs -118.00 Crore in latest quarter.

Investment Rationale
Breakout from the “Flag” pattern and sustaining above its 50 and 200 days EMA

Promoter/FII Holdings
Promoters held 71.25 per cent stake in the company as of 31-Mar-2022, while FIIs owned 13.05 per cent, DIIs 7.56 per cent.