Market

Shares of Torrent Pharma fall as Nifty drops

Shares of Torrent Pharmaceuticals Ltd. slipped 1.51 per cent to Rs 2724.6 in Tuesday’s trade as of 01:31PM (IST). It hit a high of Rs 2769.45 and low of Rs 2711.0 during the session.

The stock quoted a 52-week high price of Rs 3040.0 and a low of Rs 2232.0. The return on equity for the stock stood at 21.24 per cent. About 7,587 shares have changed hands on the counter so far.

The stock’s beta value, which measures its volatility in relation to the broader market, stood at 0.49.

The scrip has been an underperformer, up 9.24 per cent in the past one year in comparison with a 45.52 per cent gain in Sensex.

Technicals

On the technical charts, the 200-day moving average (DMA) of the stock stood at Rs 2232.0 on May 11, while the 50-DMA was at Rs 2518.22. If a stock trades well above 50-DMA and 200-DMA, it usually means the immediate trend is upward. On the other hand, if the stock trades well below 50-DMA and 200-DMA both, it is considered a bearish trend and if trades between these averages, then it suggests the stock can go either way.

Promoter/FII Holding

Promoters held 71.25 per cent stake in Torrent Pharmaceuticals Ltd. as of 31-Mar-2021. Mutual funds and foreign institutional investors held 6.47 per cent and 11.37 per cent stake.

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