Torrent Pharma rises on getting long term credit rating upgraded by ICRA
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Torrent Pharmaceuticals is currently trading at Rs. 1545.30, up by 10.25 points or 0.67% from its previous closing of Rs. 1535.05 on the BSE.
The scrip opened at Rs. 1540.00 and has touched a high and low of Rs. 1567.35 and Rs. 1540.00 respectively. So far 4924 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 1652.23 on 31-Dec-2021 and a 52 week low of Rs. 1242.50 on 12-May-2022.
Last one week high and low of the scrip stood at Rs. 1570.75 and Rs. 1510.00 respectively. The current market cap of the company is Rs. 52393.05 crore.
The promoters holding in the company stood at 71.25%, while Institutions and Non-Institutions held 20.81% and 7.95% respectively.
Credit rating agency -- ICRA has upgraded the long term credit rating of banking facilities and non-convertible debentures of Torrent Pharmaceuticals to ‘AA+/Stable’ from ‘AA/Positive’. ICRA has reaffirmed its rating on commercial paper programme at ‘Al+’.
The upgrade in Torrent Pharmaceutical’s (TPL) long-term rating factors strong business position and performance in its key markets, India, Brazil and ROW (rest of the world), offsetting some moderation in performance witnessed in some other key markets (USA and Germany) in FY2022 and Q1 FY2023.
Torrent Pharmaceuticals is flagship company of the Torrent group, a leader in cardiovascular and central nervous system segments. It also has presence in gastro-intestinal, diabetology, anti-infective and pain management segments.
