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Aurobindo Pharma soars on getting nod to transfer business undertaking of Auronext Pharma

12 Nov 2020 Evaluate

Aurobindo Pharma is currently trading at Rs. 850.40, up by 39.35 points or 4.85% from its previous closing of Rs. 811.05 on the BSE.

The scrip opened at Rs. 815.90 and has touched a high and low of Rs. 858.80 and Rs. 801.35 respectively. So far 253805 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 967.60 on 10-Aug-2020 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. 858.80 and Rs. 754.15 respectively. The current market cap of the company is Rs. 47522.55 crore.

The promoters holding in the company stood at 52.01%, while Institutions and Non-Institutions held 36.68% and 11.31% respectively.

Aurobindo Pharma’s board has approved the transfer of business undertaking of Auronext Pharma, a wholly owned subsidiary of the company, on a going concern basis, to Eugia Pharma Specialities, another wholly owned step-down subsidiary of the company, through execution of a business transfer agreement. The Board of Directors of the company at its meeting held on November 11, 2020, has, inter alia, considered and approved the same.

The slump sale shall be effective from the date of execution of the binding agreement. The business transfer shall be completed upon satisfaction of customary conditions precedents such as obtaining necessary corporate and regulatory approvals, transfer of employees, contracts, transfer of immovable properties, transition/ novation of licenses and approvals etc. The transaction is expected to be completed by December 31, 2020.

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.

Aurobindo Pharma Share Price

1391.15 23.45 (1.71%)
21-Apr-2026 16:59 View Price Chart
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