torrent pharma share price: Buy Torrent Pharma, target price Rs 2700: Edelweiss

has buy call on with a target price of Rs 2700. The current market price of Torrent Pharmaceuticals Ltd. is Rs 2632.8.

Torrent Pharmaceuticals Ltd., incorporated in the year 1972, is a Large Cap company (having a market cap of Rs 44751.79 Crore) operating in Pharmaceuticals sector.

For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1985.00 Crore, down 1.44 % from last quarter Sales of Rs 2014.00 Crore and up .86 % from last year same quarter Sales of Rs 1968.00 Crore. Company reported net profit after tax of Rs 310.00 Crore in latest quarter.

Investment Rationale
Torrent Pharma has given a reversal near its previous mini swing bottom round Rs 2,510. The stock has also moved away from its moving average and hence a pullback to levels of Rs 2,700 cannot be ruled out.

Promoter/FII Holdings
Promoters held 71.3 per cent stake in the company as of Sept 30, 2020, while FIIs held 12.2 per cent, DIIs 8.4 per cent and public and others 8.1 per cent.