Analyst Research Report Snapshot

Title:

Aurobindo Pharma achieved target price of Rs 412, book partial profit, wait for December-2013 quarter

Price:

$12.00

Provider:

IndiaNivesh Securities Pvt Ltd

Date:

26 Dec 2013

Pages:

2

Type:

AcrobatPDF

Companies referenced:

ARBN.NS

Available for Immediate Download
Summary:

 Stock Update Aurobindo Pharma achieved target price of Rs 412, book partial profit, wait for December-2013 quarter | Since 9th April 2012 (at prevailing market price of Rs 113) post management meet, we are bullish on Aurobindo Pharma and had upgraded our target price from Rs 150 upto Rs 412 level in gradual manner in the last one and half year. Yesterday (26th Dec 2013) once again stock achieved our target price of Rs 412 and closed at Rs 403 level. Till date since our recommendation, the stock has yielded 264% return. Currently we maintain our target price of Rs 412 and temporarily put rating under review. We would like to see the December-2013 quarter performance of the company for further revision in our rating and target price. Though we maintain positive outlook but due to more than 100% run up by stock price in the last three months, we advise investors to book partial profit at current level and re-enter at lower levels. At CMP of Rs 403, the stock is trading at P/E multiple of 16.2x of FY14E &11.7x of FY15E

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