Nomura rates Torrent Pharmaceuticals 'Neutral' amid strong Indian Pharma Market growth
What happened
Nomura rated Torrent Pharmaceuticals 'Neutral' in its October 8 note. The brokerage highlighted that the Indian Pharmaceutical Market recorded 13.5% year-on-year growth in September, its strongest performance in three years. Nomura retained 'Buy' ratings on Sun Pharmaceutical Industries, Lupin, Zydus Lifesciences, and Dr Reddy's Laboratories.
From moneycontrol.com
Why it matters
The strong growth in the Indian Pharmaceutical Market confirms the health of the sector in India. While Torrent Pharmaceuticals received a 'Neutral' rating, Zydus Lifesciences and Sun Pharmaceutical Industries led growth among top companies, with sales rising 23.5% and 21.5% year-on-year, respectively.
From moneycontrol.com
Who's involved
- NomuraProvided financial ratings and analysis on Torrent Pharmaceuticals
- Torrent PharmaceuticalsIndian multinational pharmaceutical company rated by Nomura
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The entities involved
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Nomura
corporation in Japan
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Torrent Pharmaceuticals
Indian multinational pharmaceutical company
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