Aurobindo Pharma trades marginally higher on inking pact to invest in two solar power companies
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Aurobindo Pharma is currently trading at Rs. 859.25, up by 3.25 points or 0.38% from its previous closing of Rs. 856.00 on the BSE.
The scrip opened at Rs. 869.00 and has touched a high and low of Rs. 869.00 and Rs. 856.15 respectively. So far 10398 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1023.10 on 25-Jan-2021 and a 52 week low of Rs. 281.15 on 23-Mar-2020.
Last one week high and low of the scrip stood at Rs. 925.00 and Rs. 837.50 respectively. The current market cap of the company is Rs. 50156.34 crore.
The promoters holding in the company stood at 51.94%, while Institutions and Non-Institutions held 37.60% and 10.47 /% respectively.
Aurobindo Pharma has entered into binding agreements to invest Rs 5.38 crore each in NVNR (Ramannapet I) Power Plant and NVNR (Ramannapet II) Power Plant, aggregating to Rs 10.76 crore. The company has invested in the two firms to avail the benefit of captive consumption of solar power. After making the said investments, the company will be holding 26 percent of the share capital in each of the aforesaid solar power generating companies.
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.
