Sumeet Bagadia of Choice Broking has chosen Torrent Pharma as his ‘Christmas 2023 Pick’. Bagadia has recommended a ‘Buy’ on the pharma stock at ₹2,185 and up to ₹2,090 for a target price of ₹2,420 to ₹2,490.
The results came after the close of the market hours. Shares of Torrent Pharmaceuticals Ltd ended at ₹1,876.95, down by ₹12.00, or 0.64 percent on the BSE.
Read the details on Torrent Pharma which is in race to buy the Hamied family stake in Cipla. Get insights into this significant development in the pharmaceutical industry at news18.com
The earnings before interest, tax, depreciation and amortisation (EBITDA) 11% YoY to Rs 791 crore. The R&D spend rose 6% YoY to Rs 129 crore the second quarter.
Torrent Pharma share price: The pharma company's base business grew 15 per cent and it expects India's business to continue its current growth momentum backed by new launches and integration of Curatio, Prabhudas said.