Buy Torrent Pharmaceuticals, target price Rs 3300: Edelweiss

Edelweiss has buy call on Torrent Pharmaceuticals with a target price of Rs 3300. The current market price of Torrent Pharmaceuticals is Rs 3074.35.

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 52008.06 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 30-09-2021, the company reported a Consolidated Total Income of Rs 2188.00 Crore, up .64 % from last quarter Total Income of Rs 2174.00 Crore and up 8.16 % from last year same quarter Total Income of Rs 2023.00 Crore. Company reported net profit after tax of Rs 316.00 Crore in latest quarter.

Investment Rationale
Stock has witnessed a good bounce from 21 EMA on weekly timeframe and currently trading above it

Promoter/FII Holdings
Promoters held 71.25 per cent stake in the company as of 30-Sep-2021, while FIIs owned 13.41 per cent, DIIs 6.84 per cent.