Torrent Pharma ends in red despite a firm start

Torrent Pharma slipped into red to a low of Rs 377, down almost 7% from the day's high of Rs 405. The stock finally ended with a loss of 2.7% at Rs 382. The counter registered trades of around 36,500 shares on the BSE.
_____________________________________________________
(Updated at 1021 hrs)

Torrent Pharma has moved up in early trades on the back of fresh investment plans in Dahej SEZ.

"We will invest around Rs 350 crore in the Dahej SEZ and have already started work on land development there.The acquisition process is complete. The facility will take around three to three and a half years to come up", said Sanjay Dalal, chief operating officer, Torrent Pharma.

The stock jumped to a high of Rs 405 in opening trades, and is now up 1.5% at Rs 398. The counter has seen thin volumes of around 3,000-odd shares on the BSE.

The company is eying the regulated drug markets like the US from its upcoming formulations facility in the Dahej special economic zone(SEZ), while its other formulations manufacturing set-up in Sikkim is expected to come on stream by October 2010.

Click here to read: Torrent Pharma plans to invest Rs 475 crore in Sikkim, Dahej