Torrent Pharma shares jump 7% post strong Q4 results; should you buy, or sell pharma stock?

Torrent Pharma share price today NSE, Torrent Pharma share price target, Torrent Pharma Q4 results: Torrent Pharmaceuticals shares jumped nearly seven per cent on Monday, May 27 after the pharma company reported a strong set of March quarter results. The pharma stock gained 6.9 per cent to the day's high of Rs 2,795 on NSE in morning deals. The counter closed at Rs 2,648.05, up 1.36 per cent on NSE. 

Torrent Pharma Q4 results

On Friday, post-market hours, Torrent Pharma posted a 56.45 per cent jump in consolidated net profit to Rs 449 crore in the March quarter, riding on higher revenue.

Consolidated revenue from operations in the fourth quarter of FY24 stood at Rs 2,745 crore as against Rs 2,491 crore in the year-ago period.

India's revenue was at Rs 1,380 crore, up 10 per cent while the same for Brazil was at Rs 372 crore, registering a growth of 17 per cent, and Germany was at Rs 280 crore, up 11 per cent in the quarter, the company said.

Torrent Pharma share price target: Should you buy, sell or hold Torrent Pharma shares?

Torrent Pharma dividend 2024

Torrent Pharma has recommended a final dividend of Rs 6 per equity share of Rs 5 each, subject to shareholders' approval.

Further, the board has also recommended obtaining enabling approval from the shareholder to raise up to Rs 5,000 crore through the issuance of equity shares, including convertible bonds/debentures through qualified institutional placement (QIP) and or any other modes.

(With PTI inputs)

(This story will be updated shortly.)

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