At the day's high of Rs 870, the stock had advanced 2.29% before the company made this announcement during trading hours.
Meanwhile, the BSE Sensex was down 99.66 points, or 0.59%, to 16,743.88.
On BSE, 11,025 shares were traded in the counter as against an average daily volume of 53,285 shares in the past one quarter.
The stock hit a high of Rs 870 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 838 so far during the day. The stock had hit a 52-week low of Rs 101.60 on 6 November 2008.
The mid-cap stock outperformed the market over the past one month till 8 October 2009, rising 21.19% as compared to the Sensex's 4.46% rise. It had also outperformed the market in the past one quarter, gaining 96.14% as compared to the Sensex's return of 22.33%.
The company's equity capital is Rs 26.88 crore. Face value per share is Rs 5.
The current price of Rs 842.50 discounts the company's Q1 June 2009 annualized EPS of Rs 93.83, by a PE multiple of 8.98.
Prasad Reddy Kambam, a promoter of the company has reduced his stake to 0.16% from 0.19% after selling 15,000 shares representing 0.03% of the equity capital of the company through open market on 8 October 2009.
Aurobindo Pharma had on 19 September 2009 received tentative approval from US Food and Drug Adminstration (US FDA) for its abbreviated new drug applications (ANDAs) Atomoxetine Hydrochloride capsules in multiple strengths and final approvals for Ribavirin tablets and Ribavirin capsules in 200 miligram (mg) each.
Atomoxetine Hydrochloride is the generic version of Strattera of Eli Lily and Company. The drug is used for treating attention-deficit/ hyperactivity disorder (ADHD) in children aged 6 and older, teens, and adults and falls under the neurological (CNS) segment. As per Newport, the drug has a market size of approximately $500 million in US market for the twelve months ended March 2009.
Ribavirin tablet is the generic Copegus and Ribavirin Capsules is generic equivalent to Rebetol of Schering Corporation. Ribavirin tablets and capsules are antiviral agents indicated in the treatment for adults with chronic Hepatitis C Virus who have compensated liver disease and have not previously been treated with interferon alpha.
Aurobindo Pharma had on 7 September 2009 received approval from Swissmedic, Government of Switzerland for Amlodipine Besylate tablets and Metformin Hydrocholoride tablets in multiple strengths.
Amlodipine is used for treating angina pectoris and mild to moderate hypertension. The drug falls under the cardio vascular disorder (CVD) therapeutic segment.
Metformin is a biguanide antidiabetic tablet, which is indicated as an adjunct to diet and exercise to improve glycemic control in adults and children with type 2 diabetes mellitus.
Aurobindo Pharma's net profit surged 216.3% to Rs 126.11 crore on 16.2% rise in net sales to Rs 752.23 crore in Q1 June 2009 over Q1 June 2008.
Aurobindo, which started off as a supplier of drug raw materials to semi- regulated markets, has moved up the value chain and currently sells finished generic drugs in regulated markets.
Aurobindo Pharma had on 3 July 2009 announced that PV Ramprasad Reddy, Chairman and a promoter of Aurobindo Pharma had revoked more than 44.25 lakh shares representing 8.23% of the company's equity capital out of 1.24 crore shares representing 23.07% of the equity capital of the firm which he had pledged earlier. Ramprasad held 31.56% stake in the company as on 30 June 2009.
On the same day, the company had announced that K Kirthi Reddy, a promoter had revoked five lakh shares or 0.93% of the equity capital of the company out of 5.05 lakh shares representing 0.94% of the company capital of the company, which he had pledged earlier. K Kirthi Reddy held 4% stake in the company as on 30 June 2009.
The total promoter shareholding in the company is 59% as on 30 June 2009.