SEBI issues warning letter to Aurobindo Pharma over US FDA audit

The Securities and Exchange Board of India (SEBI) on Monday issued a warning letter to pharmaceutical manufacturing company Aurobindo Pharma. The warning letter has been issued for not sharing complete information related to the United States Food and Drug Administration (US FDA). Zee Business report.

According to the report, SEBI claimed that Aurobindo Pharma has shared limited information related to the US FDA audit. Sebi said the company did not elaborate on why the US FDA took action against them. The market regulator also claimed that even limited information was not shared by the company on time.

The stock of Aurobindo Pharma is trading at Rs 520.

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Taking about the Aurobindo Pharma, the expert Sandeep Wagle said, these stocks are perpetual under-performer. The stock will spend sometimes in the range of Rs 530 - Rs 540, he further said, and if the range of Rs 500 will break in any circumstances, then the stock will also reach Rs 430 to Rs 440.