Shares of Torrent Pharmaceuticals rose as much as 4 percent to Rs 3,350 on Friday after global brokerage JPMorgan upgraded the stock to ‘Overweight’, citing strong growth levers in the coming quarters.
With a target price of Rs 3,800, JPMorgan implies an upside potential of 18 percent from the last closing price of Rs 3,222 per share on the NSE. The previous target price given by the brokerage was Rs 3,650.
JPMorgan expects Torrent’s India business to remain a key growth driver, with continued momentum in core segments. The company’s Brazil operations are also gaining traction, helped by improving fundamentals and a favourable base, especially after recent currency-related headwinds.
The brokerage also flagged Torrent’s potential to tap into India’s nascent GLP-1 segment—a fast-growing diabetes and weight-loss therapy—leveraging its established presence in cardiometabolic care. This opportunity, according to JPMorgan, could add 100–200 basis points to Torrent’s annual revenue growth in the coming years.
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