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BSE   23 Oct 17 | 12:00 AM

750.50 -3.3 (-0.44%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: 524804
Face Value: N.A.

NSE   23 Oct 17 | 12:00 AM

750.95 -3.1 (-0.41%)
Mkt Price (Rs)   Chg Rs (Chg %)
Code: AUROPHARMA
Performance
1 Week : Rs 757.60 (-0.94%)
1 Month : Rs 724.05 (3.65%)
1 Year : Rs 823.50 (-8.86%)
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Aurobindo Pharma gains over 10% on positive growth outlook

SI Reporter / New Delhi 30 May 17 | 11:29 AM

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Even with muted outlook for the pharma sector, Aurobindo Pharma, today, rose as much as 10.6% in today’s trade after the company yesterday said  is confident about FY18 growth despite weak Q4 earnings. The company posted a  4% dip in consolidated net profit at Rs 532.22 crore for the fourth quarter ended March 2017 as compared to Rs 554.51 crore posted during the same period of the previous fiscal.

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The healthcare company, in its conference call, said that it is less worried about pricing pressure in the US and the price erosion is likely to be 7-8%, which is far less than its peers that expect in double digits. The company also expects intensity of pricing pressure to taper off in the coming quarters.

The firm also informed BSE that the Board of Directors of the Company at its meeting held on May 29, 2017, inter alia, has considered and approved second interim dividend of 125% i.e. Rs.1.25 (Rupee one and paise twenty five only) per equity share of Re.1/- each on the equity share capital of the Company for the financial year 2016-17.

“The total dividend, including the second interim dividend for the financial year 2016-17 will aggregate to 250% i.e. Rs.2.50 (Rupee two and paise fifty only) per equity share of Re.1/- each on the equity share capital of the Company," a filing on BSE said.

Higher than usual volumes were witnessed on the counter with 4.38 lakh shares trading in the counter so far on BSE, compared with average daily volumes of 2.57 lakh shares in the past one quarter. The stock had hit a high of Rs 547.45 and a low of Rs 506 so far during the day.

At 11:24 am the scrip was trading 8.33% higher at Rs 556.5 as compared to 0.2% gain on BSE Sensex. It had hit a high and low of Rs 568.25 and Rs 506 so far in today’s trade.

The stock had hit a record high of Rs 895 on October 6, 2016. Shares of the company fell 15.24% in the past one month till 29 May 2017, as against 3.98% gains in the Sensex. The scrip had also underperformed the market in past one quarter, falling 24.14% as compared to Sensex's 8.23% gains.

BSE Healthcare index has falled over 10% in the month of May and analysts believe any bad news — be it on the regulatory front (US FDA plant inspections), delay in approvals or pricing pressures on the current basket of products — could lead to further correction in the range of 5-10 per cent. The top five companies in the pharma space, which used to trade at 22-25 times one-year forward earnings, are now available at 17-18 times. Read full report here

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