The 30-share BSE Sensex was down 134.94 points at 56972.58
The 30-share BSE Sensex was down 134.94 points at 56972.58
The stock quoted a 52-week high price of Rs 537.2 and low of Rs 322.1.
In the Nifty pack, 24 stocks were trading in the green, while 26 stocks were trading in the red.
Citigroup maintained a ‘neutral’ on Torrent Pharma with a target price of Rs 1,700. India is growing at a CAGR of 16% over the last 10 years.
The Relative Strength Index of the stock stood at 46.34 on Wednesday.
With balance sheets of corporates being strong, combined with utilisation levels inching towards optimum levels, the capex cycle revival is expected to lead to a strong boost in orders for industrial and capital goods companies. This combined with China plus one strategy and Europe plus one story emerging, the narrative of India transitioning towards upping its manufacturing presence on a global level only strengthens, said Nitasha Shankar, PRS – Head Research, Yes Securities.
During the five-day selloff, several stocks saw deep cuts. ETMarkets.com found six Sensex stocks that have consistently fallen in the last five trading sessions.
On the technical charts, the 200-day moving average of the stock stood at Rs 607.39.
A total of 59,837 shares changed hands on the counter till time (IST).