Aurobindo hits 2-year low; dips 11% in a week on USFDA's 6 observations

Analysts at ICICI Securities expect Aurobindo Pharma's adjusted PAT to de-grow 30.4 per cent year-on-year (YoY) to Rs 557.90 crore in the March 2022 quarter.

Shares of Aurobindo Pharma were under pressure as it hit new 52-week low of Rs 536.40, down 2.6 per cent on the BSE in Tuesday’s intra-day trade in an otherwise upbeat market. In comparison, the S&P BSE Sensex was up 1.8 per cent or 930 points at 53,904 at 12:23 pm.

The stock of pharmaceutical company slipped 11 per cent in the past one week after the company received six observations from the United States Food and Drug Administration (USFDA) for its Unit VII.

The stock price of Aurobindo Pharma quoted its lowest level since May 2020. Besides