Aurobindo Pharma surges on getting nod to sell stake in Auro Vaccines
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Aurobindo Pharma is currently trading at Rs. 628.50, up by 17.30 points or 2.83% from its previous closing of Rs. 611.20 on the BSE.
The scrip opened at Rs. 611.25 and has touched a high and low of Rs. 654.95 and Rs. 611.25 respectively. So far 136309 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 654.95 on 30-May-2023 and a 52 week low of Rs. 397.30 on 03-Feb-2023.
Last one week high and low of the scrip stood at Rs. 654.95 and Rs. 584.55 respectively. The current market cap of the company is Rs. 36846.75 crore.
The promoters holding in the company stood at 51.83%, while Institutions and Non-Institutions held 38.11% and 10.05% respectively.
Aurobindo Pharma has received approval from board of directors for sale and transfer of all equity shares of Auro Vaccines, a wholly owned subsidiary of the Company, to Curateq Biologics, another wholly owned subsidiary of the Company, as part of verticalization of business operations. The completion of the sale is estimated in the first quarter of FY 2023-24. The Board of Directors of Aurobindo Pharma at its meeting held on May 27, 2023, has approved the same.
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.
