Aurobindo Pharma shares were under pressure in early trade, falling close to 3% after brokerage firm Macquarie issued a double downgrade on the stock. The firm revised its rating to ‘underperform’ from ‘outperform’ and sharply reduced the target price to ₹1,010 from ₹1,700, citing multiple concerns.
Macquarie pointed to limited visibility on earnings growth, ongoing regulatory challenges, and pricing pressure in key markets as reasons behind the downgrade. The cut in target price brings it closer to the stock’s 52-week low of ₹1,010.
The stock opened at ₹1,169.10 and, at the time of writing, touched an intraday low of ₹1,149.00, compared to a previous close of ₹1,172.20. It hit a 52-week high of ₹1,592 earlier this year.
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