Aurobindo Pharma share gained over 6 per cent today after global research firm CLSA maintained outperform call on the stock. Aurobindo Pharma stock has gained after 10 days of consecutive fall. The stock opened with a gain of 4.78% at Rs 714 against previous close of Rs 681.45 on BSE.
The share touched an intraday high of Rs 725.9, 6.52% higher to the previous close.
Aurobindo Pharma share is trading lower than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The stock has fallen 18.81% in one year and lost 24.52% since the beginning of this year. In a month, the share has declined 27.88%.
Total 4.41 lakh shares changed hands amounting to turnover of Rs┬а 31.11 crore on BSE.
Market cap of the firm rose to Rs 40,385 crore on BSE.
The stock touched an intraday low of Rs 703.85 in trading today.
The share hit 52-week high of Rs 1,063.75 on May 11, 2021 and 52 week low of Rs 677.05 on August 20, 2021.
CLSA has retained its outperform call with a target of Rs 830 per share. The brokerage said Cronus Pharma acquisition cancelled allays capital allocation concern, adding that key near-term trigger is value unlocking from the ongoing demerger of the injectable portfolio.
On August 20, the pharma firm said its Rs 450-crore deal to buy a 51 percent stake in Cronus Pharma Specialities India Pvt Ltd (Cronus) has been cancelled.
On August 12, the company said that it had inked definitive agreements to subscribe to fresh equity shares in Hyderabad-based Cronus, a generic veterinary pharmaceutical products firm engaged in the development, manufacturing and sale of these items.
The agreements with Cronus was for acquisition of 51 percent ownership by subscribing to 95,059,963 equity shares of Rs 10 each at a premium of Rs 34.18 per equity share aggregating to Rs 420 crore.
