Torrent Pharma looks healthy

Torrent Pharma is on a roll today. There has been increased activity on the counter since yesterday, with volumes spiking up 2.5 times and today too, volumes are up around same levels. The stock is currently up over 3.2% at Rs.568, with an intra day high at Rs.573. It went tantalizingly close to its 52-week high of Rs.578.

The stock is in action today after PE fund, ChrysCap invested around $40 million in the company and will now hold the largest non-promoter stake of around 3% in the company.  This PE fund is known to favor pharma companies and till date, has invested around $300 million in India’s healthcare sector. It has invested in two other listed companies -  Zydus Cadila and IPCA Labs , though it has since then exited from Zydus after making some very good profit on the investment.