Aurobindo Pharma gains over 10% on positive growth outlook

The stock had hit a high and low of Rs 568.25 and Rs 506 so far in today's trade.

Even with muted outlook for the pharma sector, Aurobindo Pharma, today, rose as much as 10.6% in today’s trade after the company yesterday said  is confident about FY18 growth despite weak Q4 earnings. The company posted a  4% dip in consolidated net profit at Rs 532.22 crore for the fourth quarter ended March 2017 as compared to Rs 554.51 crore posted during the same period of the previous fiscal.

The healthcare company, in its conference call, said that it is less worried about pricing pressure in the US and the price erosion is likely to be 7-8%, which is far