Pankaj Jain bullish on Aurobindo Pharma

Pankaj Jain of Sunteck Wealthmax Capital told CNBC-TV18, "Aurobindo Pharma has been a darling of stock market. It has moved from levels closer to Rs 200-215 to levels to Rs 500 now. Results are expected after market hours today. There is some kind of profit booking, some kind of shedding of positions at around Rs 500, but overall I expect that company should come out with decent set of numbers and unlike Ranbaxy Laboratories what we have seen with Aurobindo they have been solving most of their problems with USFDA and they have been getting new approvals.”

“It has been on its lifetime high almost on daily basis and this momentum could take stocks to levels closer to between Rs 520 and Rs 545 on immediate basis. So I am bullish on this stock and would be pretty careful to build short positions in it,” he added.