Aurobindo extends rally after US FDA clears Unit IV, zooms 133% in a month

The stock hit a 52-week low of Rs 281 on March 23, 2020

Shares of Aurobindo Pharma rose 6 per cent to Rs 684 on the BSE on Wednesday, gaining 26 per cent in the past two trading days after the US health regulator US FDA reverted its inspection classification of the company’s Unit IV back to voluntary action indicated (VAI), thus relieving the company of any further regulatory action for this manufacturing facility.

With the past two days' rally, Aurobindo Pharma's stock has zoomed 133 per cent in the past one month from the level of Rs 294 on March 23, 2020. In comparison, the S&P BSE Sensex was up 3