It is one product where there is over capacity.
Also, in Aurore Shri Arun kumar holds stake. And Aurore management initially agreed for merger as they knew AK.
On digging deeper, when the merger was in process, they came across the extent of actual rot and issues. That was the basic premise of calling it off. So i draw reference from there. Infact Aurore itself is sitting on Multi Cr losses on account of Molnupiravir inventory (write off?), merger would have made sure that they sink.
For Dec (month) 2023, they have done ~20 Cr, quarter will not be good. They right now do not have people.
Lets hope they turn around some time.
No positions.
PS : Biocon also going through hard, very hard.
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