Hold Aurobindo Pharma for long term: Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "I have been watching Aurobindo Pharma and recommending it from Rs 150 levels and the performance has been superb and I think going forward this performance is likely to continue. The major change that happened was their unit 6, unit 7 started, they started applying for USFDA, they started applying there for abbreviated new drug application (ANDA) and those have been coming in and they have been continuously getting small injectable in the last two years and this is going to continue driving growth.""They were already a USD 2 billion company in 2016 and two years down the line they are targeting to be a USD 3 billion revenue company. So you can imagine the growth that they are talking about.""In terms of valuation; I think in FY17 they could do an EPS close to about Rs 45 which gives a reasonable multiple, not that expensive. So if one is a long-term holder, he/she should hold but the chart does look a bit weak. So one could keep a stoploss of about Rs 715 and target of about Rs 800," she said.