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Any disappointment in numbers or even meeting of expectation may see profit booking. But who is to complain? Rs 180, Apollo Tyre is 400 plus, MRF is above 1 lakh.

Promoters held 38.19 per cent stake in the company as of 31-Mar-2023, while FII and DII ownership stood at 18.24 per cent and 22.29 per cent, respectively.

Momentum indicators RSI and MFI showed that the stock was trading in the mid-range of 50 and 67, respectively. A number above 70 indicates that the stock has entered the overbought zone.

Aurobindo Pharma, incorporated in the year 1986, is a Large Cap company (having a market cap of Rs 44792.08 Crore) operating in Pharmaceuticals sector.

EBITDA margins are likely to expand by a modest 63 basis points YoY owing to higher ad-spends, offsetting gross margins expansion of 150 bps YoY, according to analysts.

The recent rally pushed the stock to a fresh 52-week high of Rs 445 recorded on 17th July 2023. It has rallied more than 10% in a week, and over 60% in the last 3 months. The stock also gave a breakout from a Flag pattern on the weekly charts which has opened room for the stock to head towards 500 levels, suggest experts.

The risk-rewardis unfavourable at 33x FY24E and the brokerage maintain REDUCE, with a TP of INR 3,865,based on 25x Jun-25E EPS and a 16% EPS CAGR over FY23-26E.

The strong earnings show was led by a phenomenal performance by its OTT platform- JioCinema during IPL cricket league, a PTI report said. The company had posted a net profit of Rs 60.02 crore in the April-June period of the preceding fiscal, TV18 Broadcast said in a regulatory filing.

The Nifty Bank index was trading 0.28 per cent up at 45536.65.

The stock quoted a 52-week high price of Rs 630.0 and low of Rs 306.0.