Aurobindo Pharma strengthens on getting AP High Court nod for Curepro deal

Aurobindo Pharma is currently trading at Rs 591.95, up by 2.10 points or 0.36% from its previous closing of Rs 589.85 on the BSE. The scrip opened at Rs 594.25 and has touched a high and low of Rs 597.00 and Rs 590.20 respectively. So far 15665 shares were traded on the counter. The BSE group 'A' stock of face value Rs 1 has touched a 52 week high of Rs 610.40 on 05-May-2014 and a 52 week low of Rs 138.45 on 06-Aug-2013. Last one week high and low of the scrip stood at Rs 608.50 and Rs 577.00 respectively. The current market cap of the company is Rs 17191.59 crore. The promoters holding in the company stood at 54.61%, while Institutions and Non-Institutions held 33.59% and 11.80% respectively. Andhra Pradesh High Court (HC) has approved the deal between Aurobindo Pharma and its wholly-owned subsidiary Curepro Parenterals. Under the Scheme of Arrangement, Aurobindo would transfer its injectables Unit IV to Curepro, and the same is to be effective from April 1, 2014. The company will take necessary steps to make the scheme effective and intimate the exchanges accordingly. Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. The company’s robust product portfolio is spread over 6 major therapeutic/product areas encompassing Antibiotics, Anti-Retrovirals, CVS, CNS, Gastroenterologicals, and Anti-Allergics, supported by an outstanding R&D set-up.