Comments
Shares of Torrent Pharmaceuticals Ltd today gained 0.8 per cent against 1.4 per cent fall in NSE index.
The uptrend in share prices is after Nomura initiated coverage with a “buy’’ rating and a target price of Rs 1,278.
Nomura has cited Torrent’s “strong’’ track record of execution in certain markets for upgrading the rating.
It says that it expects Torrent to sustain earnings growth of more than 20 per cent over next three years.
Nomura has also cited Torrent’s “strong’’ balance sheet and free cash flow generation for the rating upgrade.
By region, Nomura says India and the United States would be key to drive Torrent’s growth.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.