Torrent reported a mixed performance for the quarter with results missing estimates. Revenues were flat YoY, while PAT grew 27% backed by OPM expansion. Outlook for the India business is healthy and Torrent looks to outperform the industry growth. Other markets such as US are under stress, while Europe performance is likely to improve, though over medium term. USFDA response on resolution for Dahej & Indrad is awaited. Rich valuation and recent run up in stock prices leaves limited upside. Torrent Pharmaceuticals Limited (Torrent) reported a mixed performance for Q2FY2021....