Prefer Torrent Pharma in midcap pharma space; see stock at Rs 1,677: Daljeet Singh Kohli

In a chat with ET Now, Daljeet Singh Kohli, Head of Research, IndiaNivesh Ltd, talks about his top investment idea.

ET Now: What is your top midcap recommendation right now as a house?

Daljeet Singh Kohli: Among quarterly results so far, numbers from pharma companies have been very good. Torrent Pharma was a big positive surprise, although some people have raised questions over what is next, whether the trend will continue.

We believe that the drug maker will report good numbers for at least the next two quarters. The way the management has come across in conference call regarding their research & development (R&D) spike up and the way the company will come out with around 17-18 ANDA filings, will all be good. So, we are recommending Torrent Pharma. We have raised the target price to Rs 1,677 from Rs 1,600 on the stock.