Analyst Research Report Snapshot

Title:

Aurobindo Pharma achieved target price of Rs 196

Price:

$12.00

Provider:

IndiaNivesh Securities Pvt Ltd

Date:

02 May 2013

Pages:

2

Type:

AcrobatPDF

Companies referenced:

ARBN.NS

Available for Immediate Download
Summary:

Aurobindo Pharma achieved target price of Rs 196. ….will revisit rating & target price post quarterly results. Since the prevailing market price of Rs 113 in April 2012 (for details refer “Management Meet Update” released as on 9th April 2012) we had recommend buy on Aurobindo with the target price of Rs 150 & further upgraded to Rs 196, which was achieved in Dec 2012. Post that we advised investors to book partial profit & downgraded our rating to hold. However, due to negative news flow like, seize of ~96 acres of land of Aurobindo’s Research Centre and fixed deposit of Rs 30 million by ED & delay in unit IV clearance from USFDA, the stock corrected from ~Rs 200 level to Rs 160 level in the month of March 2013. Anticipating company’s robust operational performance going forward & better entry point, in “NiveshMonthly March 2013” we again recommended BUY on the stock with the same target price of Rs 196. Today, once again, stock achieved our target price of Rs 196. Currently, we maintain long term positive view on the stock; however advise to conservative investors to book partial profits at current level. We will revisit our rating & target price post Q4FY13 financial results.

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