Aurobindo Pharma gained 1.35 per cent to Rs 462.40 on bargain hunting. The stock dropped 7.21 per cent in seven days of trading sessions at Rs 456.25 from its recent closing high of Rs 491.70 on 15 November 2022 (Tuesday).

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On the BSE, 40,389 shares were traded compared to daily average volumes of 1.32 lakh. The stock hit a high of Rs 463.50 and a low of Rs 455.05. The stock underperformed in October, low at 11.13 per cent compared with a 4.51 per cent rise in the Sensex.

In the second quarter, the scrip had underperformed the market, falling 16.79 per cent compared to Sensex’s 5.88 per cent rise. In 2021, the counter had underperformed the market slips by 30.91 per cent compared to the 5.85 per cent jump in Sensex.

Reportedly, the stock is trading below its 50-day simple moving average (SMA) on a daily chart, placed at 515.21; 100-day simple moving average (SMA), placed at 533.90; and 200-day simple moving average (SMA), set at 572.63. 

The pharma company manufactures, develops and distributes generic pharmaceuticals and active pharmaceutical ingredients.

On a consolidated basis, the pharmaceutical company’s net profit reported a 41.3 per cent went down to Rs 409.45 crore on a 3.7 per cent slip in net sales to Rs 5,673.65 in Q2 of FY23 over in Q2 of FY22.