Midcap Pharma Stock Fixed Record Date For 300% Interim Dividend, ICICI Direct Says "Hold"

Aurobindo Pharma Ltd, a midcap leading Pharma sector stock, has recently declared 300% Interim dividend in its Board Meeting held on 9 February 2023. The stock has recently hit the 52 week low, however, it jumped nearly 20% from its lows. Leading brokerage firm ICICI Direct in its February 20, 2023, released report on the company recommended investors to "hold" the stock. Here are the key highlights of the stock:

Aurobindo Pharma Ltd Declared 300% Interim Dividend

The Board of Directors of Aurobindo Pharma Ltd in their regulatory filing to the exchange on February 09, 2022, has said, "Approved first interim dividend of 300% i.e. Rs.3.00 (Rupees three only) per equity share of Re.1/- each on the equity share capital of the Company. The Company has already fixed February 17, 2023 as the record date for the purpose of payment of interim dividend for the financial year 2022-23. The interim dividend will be paid on or before March 3, 2023."

 

Stock Performance & 52-Week Low/High

The share price of Aurobindo Pharma is currently trading at Rs 473.30 apiece, up 0.95% as compared to its previous close. On 25 March 2022, the stock recorded its 52-week high at Rs 727.95 apiece and on 3 February 2023, the stock recorded its 52 week low at Rs 397.20 apiece, respectively.

In the past week, the stock has gained 14.02% and in the past 1 month, it gained 8.74%, respectively. However, the stock has fallen 3.39% in 3 months, 32.4% in 1 year, 10.27% in 3 years and 22.08% in 5 years, respectively.

 

ICICI Direct recommends "Hold" the stock

According to the brokerage, Aurobindo's share price has de-grown at a CAGR of 5.15% over the past three years. "We maintain HOLD as the US base business outlook is far from stable besides an elongated margin recovery due to pressure on GPM and higher R&D. Legacy cGMP and governance issues are expected to abate slowly. Valued at Rs 525 at 10x P/E on FY25E EPS of Rs 52.4," the brokerage has said.

 

Disclaimer

The stock has been picked from the brokerage report of ICICI Direct. Greynium Information Technologies, the Author, and the respective Brokerage house are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to consult with certified experts before making any investment decision.