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27-Nov2017

Aurobindo Pharma surges on eyeing inorganic growth opportunities

Aurobindo Pharma is currently trading at Rs. 721.60, up by 7.05 points or 0.99% from its previous closing of Rs. 714.55 on the BSE.

The scrip opened at Rs. 710.05 and has touched a high and low of Rs. 723.00 and Rs. 710.05 respectively. So far 23436 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 808.95 on 07-Nov-2017 and a 52 week low of Rs. 504.00 on 29-May-2017.

Last one week high and low of the scrip stood at Rs. 723.00 and Rs. 691.00 respectively. The current market cap of the company is Rs. 41864.23 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 34.15% and 13.98% respectively.

Aurobindo Pharma is looking at inorganic growth opportunities in Eastern Europe and other geographies for deeper market penetration and to secure newer technologies. Apart from acquisitions, the company is also keen to expand its product portfolio in the US and Western European markets with high-value drugs.

The company has filed a total of 90 injectable ANDAs as of end September, of which 51 have already been approved - two tentative approvals and the rest are under review with USFDA. The company expects injectable business, which has already ramped up well, to grow by at least 40% this fiscal.

Aurobindo Pharma is engaged in manufacturing pharmaceutical products. It offers active pharmaceutical ingredients, intermediates and generic formulations like astemizole, domeperidone and omeprazole; anti-infective, oral and sterile antibiotics, pain management and osteoporosis segments.


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