Aurobindo Pharma Ltd’s share rose 7% on Wednesday, reacting to its June quarter results. The spike was somewhat surprising, as its sales growth and improvement in profitability was not unexpected. Perhaps, Aurobindo’s ability to hit the target at a time when front line pharmaceutical companies are finding the going difficult is being rewarded. In the June quarter, Aurobindo’s sales rose by 12.9% from a year ago. The stock trades at about 18 times its FY17 estimated earnings per share, according to the mean of analyst estimates compiled by Reuters.

Source: Mint August 24, 2016 20:26 UTC