Torrent Pharmaceuticals stock ends lower post Q2 result

The sales rose marginally by 0.86% to Rs1,985cr in the quarter ended September 2020.

Oct 27, 2020 04:10 IST India Infoline News Service

Shares of Torrent Pharmaceuticals ended lower 2% on the BSE. The company’s net profit rose 27.05% to Rs310cr in the quarter ended September 2020 as against Rs244cr during the previous quarter ended September 2019.

The sales rose marginally by 0.86% to Rs1,985cr in the quarter ended September 2020 as against Rs1,968cr during the previous quarter ended September 2019.

As per media reports, brokerage firm Credit Suisse downgraded the stock to underperform from neutral, post its earnings, citing expensive valuations. It has raised its price target to Rs2,280 from Rs1,925.

The stock ended at Rs2,600.55, down by Rs53.9 or 2.03% from its previous closing of Rs2,654.45 on the BSE.

The scrip opened at Rs2,700 and touched a high and low of Rs2,700 and Rs2,555.65 respectively.

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