 "Sun Pharma rebounds after steep fall")
Shares of Sun Pharmaceutical Industries were trading higher by nearly 2% at Rs 971 on the National Stock Exchange (NSE) after foreign investors bought shares of the drug maker via open market on Tuesday.
The stock hit a high of Rs 974 so far and has seen a combined 4.14 million shares changing hands on the counter on the NSE and BSE till 1028 hours.
On April 21, shares of Sun Pharma dipped 9% after Japanese pharmaceuticals giant Daiichi Sankyo on sold its entire 8.9% stake or 214.97 million equity shares of the company at an average price of Rs 931.60 a share.
A clutch of foreign institutional investors (FIIs) led by Goldman Sachs, the government of Singapore and Aranda Investments have collectively bought 83.99 million shares at an average price of Rs 930.16 per share, the NSE bulk deal data shows.
The name of the other buyers have not disclosed by the company.
Meanwhile, Sun Pharma said that Mr. Dilip Shanghvi, the company’s promoter, has neither purchased nor agreed to purchase any shares of the company in the Daichi Sankyo transaction.
The stock hit a high of Rs 974 so far and has seen a combined 4.14 million shares changing hands on the counter on the NSE and BSE till 1028 hours.
On April 21, shares of Sun Pharma dipped 9% after Japanese pharmaceuticals giant Daiichi Sankyo on sold its entire 8.9% stake or 214.97 million equity shares of the company at an average price of Rs 931.60 a share.
A clutch of foreign institutional investors (FIIs) led by Goldman Sachs, the government of Singapore and Aranda Investments have collectively bought 83.99 million shares at an average price of Rs 930.16 per share, the NSE bulk deal data shows.
The name of the other buyers have not disclosed by the company.
Meanwhile, Sun Pharma said that Mr. Dilip Shanghvi, the company’s promoter, has neither purchased nor agreed to purchase any shares of the company in the Daichi Sankyo transaction.
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