Zee Business Managing Editor and Market Guru Anil Singhvi picks Aurobindo Pharma Futures as stock of the day with a Buy suggestion, as the company announces restructuring of its business.
Singhvi says, the counter could be bought for a target of Rs 990, Rs 1000, and Rs 1010 per share with a stop loss of Rs 950 per share.
See Zee Business Live TV Streaming Below:
The company has announced that it is transferring Unit-4 (injectable and ophthalmic) business to its wholly-owned Eugia subsidiary and fixed the consideration for transfer of Unit-10 (oral formulations plant) to APL Healthcare limited, Aurobindo Pharma said in an exchange filing on Thursday.
Singhvi says, this restructuring will eventually unlock the value of the pharma company, and perhaps post its reorganisation it may either sell or list the separated entity from the original business.
Zee Business (@ZeeBusiness) July 2, 2021
Singhvi suggests, to keep a target of Rs 1200 per share for a long-term perspective. The stock was earlier too recommended for returns in mid-June, however, it didnt hit the target rather was in decline.
The stock is currently trading near three per cent higher to Rs 995.45 per share at around 02:40 pm on the BSE, as compared to a 0.17 per cent rise in the BSE Sensex today.