Shares of Torrent Pharma rise as Nifty gains

Shares of Torrent Pharmaceuticals Ltd. gained 0.17 percent to Rs 2,865.2 in trading on Monday at 12:56 pm (IST). It reached a high of Rs 2880.15 and a low of Rs 2851.55 during the session.

The stock was trading at a 52-week high price of Rs 3,248.0 and a low of Rs 2,311.3. The return on equity capital was 21.44 percent. Around 2,887 stocks have changed hands so far.

The beta value of the stock, which measures its volatility relative to the market in general, stood at 0.49.

Scrip has underperformed, with an increase of 11.72 percent in the last year compared to a gain of 46.94 percent in Sensex.

Techniques

On technical charts, the stock's 200-day moving average (DMA) stood at Rs 2,311.3 on November 1, while the 50-DMA was at Rs 3,068.29. If a stock is trading well above 50-DMA and 200-DMA, it generally means that the immediate trend is up. On the other hand, if the stock is trading well below 50-DMA and 200-DMA both, it is considered a downtrend and if it trades between these averages then it suggests that the stock can go in either direction.

Promoter / Holding FII

The promoters held a 71.25% stake in Torrent Pharmaceuticals Ltd. as of September 30, 2021. Mutual funds and foreign institutional investors held 6.71 percent and 11.53 percent stakes.

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