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Aurobindo Pharma falls after SEBI slaps penalty of Rs 22 crore on it for insider trading

Aurobindo Pharma is currently trading at Rs. 610.00, down by 3.80 points or 0.62% from its previous closing of Rs. 613.80 on the BSE.

The scrip opened at Rs. 601.00 and has touched a high and low of Rs. 614.40 and Rs. 589.50 respectively. So far 75559 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 838.00 on 30-Apr-2019 and a 52 week low of Rs. 537.00 on 05-Aug-2019.

Last one week high and low of the scrip stood at Rs. 635.70 and Rs. 589.50 respectively. The current market cap of the company is Rs. 35595.77 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 35.23% and 12.90% respectively.

Securities and Exchange Board of India (SEBI) has imposed a total penalty of over Rs 22 crore on Aurobindo Pharma, its promoter PV Ramprasad Reddy, his wife P Suneela Rani and other connected entities for violating insider trading norms. The regulator conducted an investigation into the trading in the scrip of Aurobindo Pharma during the period from July 2008 to March 2009 to ascertain the regulatory violation.

The probe found that the promoter entities traded in the scrip of the company based on unpublished price sensitive information (UPSI) pertaining to the company’s Licensing and Supply Agreements with Pfizer Inc and made unlawful gains.

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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