Aurobindo Pharma slides after promoter pares stake

Kambam Spoorthi, promoter of the drug company, sold 6 lakh equity shares, or 0.102% stake, of Aurobindo Pharma on 14 June 2021 through open market sale.

Following the transaction, Kambam Spoorthi has decreased its stake in Aurobindo Pharma to 1.195% from 1.297% held earlier.

Shares of Aurobindo Pharma were trading 0.77% lower at Rs 980.15 on BSE.

Aurobindo Pharma manufactures generic pharmaceuticals and active pharmaceutical ingredients. On a consolidated basis, Aurobindo Pharma posted 7.18% decline in net profit to Rs 801.1 crore on 1.18% decline in net sales to Rs 5,991.68 crore in Q4 FY21 over Q4 FY20.

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