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Aurobindo Pharma soars on aiming to become debt free in next 3 years

Aurobindo Pharma is currently trading at Rs. 438.30, up by 9.60 points or 2.24% from its previous closing of Rs. 428.70 on the BSE.

The scrip opened at Rs. 429.10 and has touched a high and low of Rs. 442.40 and Rs. 429.10 respectively. So far 52843 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. 389.70 on 14-Nov-2019.

Last one week high and low of the scrip stood at Rs. 449.50 and Rs. 412.90 respectively. The current market cap of the company is Rs. 25529.35 crore.

The promoters holding in the company stood at 51.87%, while Institutions and Non-Institutions held 34.95% and 13.18% respectively.

Aurobindo Pharma is aiming to become a debt-free company in the next three year’s barring the amount it is spending on acquisition of Sandoz products. In September last year, the company’s US subsidiary entered into an agreement to acquire commercial operations and three manufacturing facilities in America from Sandoz Inc, USA, a Novartis Division, for $900 million.

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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