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BUZZ-India's Aurobindo Pharma rises after Q1 results
August 10, 2017 / 4:28 AM / 2 months ago

BUZZ-India's Aurobindo Pharma rises after Q1 results

** Shares of Aurobindo Pharma Ltd rise as much as 5.6 pct to 722.00 rupees, their biggest intraday pct gain since July 19 ** Shares of India’s third largest drugmaker by sales top pct gainer on the NSE index ** Company reported a 11 pct fall in quarterly profit on Wednesday, hurt by lower sales from formulations business in the U.S. and disruptions related to the launch of Goods and Services Tax in India

** Aurobindo Pharma results were mixed but were better than peers as the company reported improvements in gross margins due to its product mix, analysts from brokerage Nirmal Bang said, adding that management seemed confident of its U.S. and overall growth

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