- A look at the 2 year Price Charts gives me the feel that the Scrip has a bottom in place at 80 levels which it saw intraday on 18/11/2011. Presently the overbearing tone is one of consolidation with a definite positive bias. On the downside there is a good support at 85 and on the upside, supply areas are at 96 followed by 103 and then 112. A confirmed uptrend only if it trades decisively above 123 levels for a reasonable period of time.
- On the Fundamentals, the precipitous fall in the last couple of months in particular has a lot to do with the poor Q2 FY2012 Results wherein the operating numbers were lower than expected; the results were optically further vitiated by the huge FX MTM loss.
- However, everything is good at a price, as they say and I feel that one could pick up the Scrip at CMP 91 and dips, if any, and hold for the long term. Good upsides of 20-25% plus over the next 12 months could be expected assuming the operating numbers improve going ahead.
AUROBINDO PHARMA Q2 FY2012 RESULTS SEE HERE
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