Aurobindo Pharma looking Strong

Aurobindo Pharma CMP 700 is a long term investment idea. Mutual Funds and FIIs are increasing the hold in this counter in the last quarter. Another positive about the counter is that promoters are decreasing their pledge in this low debt company. After making an all-time high of 1064 last year the stock corrected and seems to have made a bottom near 590 levels. Immediate targets for Auro Pharma will be 742 and 798. A stop loss should be maintained at a closing below 590 levels.