Comments
Shares of Aurobindo Pharma rose as much as 5.6 per cent to Rs 722, their biggest intraday percentage gain since July 19.
Shares of India's third largest drugmaker by sales were the top percentage gainers on the NSE index.
The company had reported a 11 per cent fall in quarterly profit on Wednesday, hurt by lower sales from formulations business in the US and disruptions related to the launch of Goods and Services Tax in India.
Aurobindo Pharma results were mixed but were better than peers as the company reported improvements in gross margins due to its product mix, analysts from brokerage Nirmal Bang said, adding that management seemed confident of its US and overall growth.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.