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Torrent Pharmaceuticals declines on getting warning letter for Indrad facility in Gujarat

Torrent Pharmaceuticals is currently trading at Rs. 1629.60, down by 36.55 points or 2.19% from its previous closing of Rs. 1666.15 on the BSE.

The scrip opened at Rs. 1580.00 and has touched a high and low of Rs. 1648.00 and Rs. 1554.65 respectively. So far 44807 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 1,964.00 on 29-Mar-2019 and a 52 week low of Rs. 1453.00 on 23-Jul-2019.

Last one week high and low of the scrip stood at Rs. 1670.35 and Rs. 1554.65 respectively. The current market cap of the company is Rs. 27513.34 crore.

The promoters holding in the company stood at 71.25%, while Institutions and Non-Institutions held 18.80% and 9.95% respectively.

Torrent Pharmaceuticals has received a warning letter from the US Food and Drug Administration (USFDA) for its Indrad facility in Gujarat. This action by the USFDA follows earlier intimation received from the regulator in August 2019, wherein the agency had classified its inspection as ‘Official Action Indicated’ (OAI). The company is committed in maintaining the highest standards of compliances and quality manufacturing across all its facilities.

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.