Buy Aurobindo Pharma: target of Rs 1100: Sharekhan

Sharekhan is bullish on Aurobindo Pharma has recommended buy rating on the stock with a target price of Rs 1100 in its research report dated March 30, 2021.

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March 31, 2021 / 03:26 PM IST

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Sharekhan's research report on Aurobindo Pharma

Expected sturdy growth in the injectables, new facility coming on stream in the US, strong new product pipeline and gradual pick up in complex generics are the key growth drivers for the US business. In order to cater to the surging demand from the Europe and emerging markets, the company is setting up a greenfield plant at Vizag, which is likely to be ready by the next 15 months. The expected commissioning of a 450mn dose vaccine capacity by end of June 2021 provides a new growth avenue for Aurobindo.

Outlook

We retain Buy recommendation on the stock of Aurobindo Pharma Limited (Aurobindo)with an unchanged PT of Rs 1100.

For all recommendations report, click here

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