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Last Updated : Dec 19, 2019 12:41 PM IST | Source: Moneycontrol.com

Aurobindo Pharma share price rallies 3% after Citi sees 89% potential upside

The brokerage also expects further clarity on units VII and IV in coming months.

3. Alembic: Alembic promoters increased have their stake in the company to 63.31 percent from 64.01 in the previous year. The stock has given 10.88 percent return YTD (Image Source: Getty Images)
3. Alembic: Alembic promoters increased have their stake in the company to 63.31 percent from 64.01 in the previous year. The stock has given 10.88 percent return YTD (Image Source: Getty Images)
 
 
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Shares of Aurobindo Pharma climbed 3 percent intraday on December 19 after global brokerage Citi maintained the buy call on the stock with a target of Rs 860.

This implies a whopping 89 percent potential upside from current levels.

"The risk-reward is favourable now and the compliance risk is priced in," said the research firm which expects Sandoz deal to close in the next few months.

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The brokerage also expects further clarity on units VII and IV in coming months.

Sandoz Deal completion will be positive while negative outcome on units VII and IV is already priced in, Citi said.

 

The stock gained 9 percent in the last one month. It was quoting Rs 461.60, up Rs 7.60, or 1.67 percent at the time of publishing this copy.

Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Dec 19, 2019 12:41 pm
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