This large-cap pharma stock jumps more than 2.5% after its subsidiary signed a Letter of Intent (LOI). This stock has delivered 61% returns in six months and 110% returns in YTD and the stock closed 1.6% away from the 52-week high.
Aurobindo Pharma Ltd
The company has a market capitalisation of Rs. 53,868 Cr, making it a large-cap company. On Thursday the stock gains more than 2.5% and closed 1.6% up at Rs. 914.85 on NSE.
According to NSE filing, the company on September 1, 2022, informed about the expansion of the biologics manufacturing facilities and exploring the possibilities of enter into contract manufacturing operations (CMO) for biological.
In addition, the company informed that CuraTeQ Biologics Pvt Ltd, a wholly-owned subsidiary of the company, along with its subsidiaries has been in discussions with Merck Sharp & Dhomme Singapore Trading Pte. Ltd and its affiliates (MSD) for CMO operations and in this regard parties have signed a limited LOI.
The company’s total revenue grew by 9.8% from Rs. 6,235.9 Cr in Q1 FY23 to Rs. 6,850.5 Cr in Q1 FY24 and for the same period, net profits increased by 9.4% from Rs. 520.3 Cr to Rs. 569.7 Cr.
As per the latest shareholding data, Promoters hold 51.83%, FIIs hold 24.13%, DIIs hold 15.73% and the public hold 8.13% stake in the company.
Aurobindo Pharma Limited manufactures generic formulations and active pharmaceutical ingredients in India, the United States of America, Europe, and internationally. It provides formulation in the form of orals, injectables, and over-the-counter drugs; as well as active pharmaceutical ingredients (API) for biosimilars, dermatological, respiratory, vaccines, and peptides, as well as oncology, hormones, and sterile products.
Written by Sheshadri N
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
