Sun Pharma drops after listing of shares allotted to Ranbaxy shareholders

Sun Pharmaceutical Industries fell 1.64% to Rs 1,071.70 at 11:04 IST on BSE as shares allotted by the company to shareholders of Ranbaxy Laboratories on merger of the firm with Sun Pharma were admitted for trading on the bourses today, 17 April 2015

Meanwhile, the S&P BSE Sensex was down 80.12 points or 0.28% at 28,585.92.

On BSE, so far 1.02 lakh shares were traded in the counter as against average daily volume of 2.43 lakh shares in the past one quarter.

The stock hit a high of Rs 1,104.85 and a low of Rs 1,068.55 so far during the day. The stock had hit a 52-week low of Rs 572.15 on 22 May 2014. The stock had hit a record high of Rs 1,200.70 on 7 April 2015.

The stock had outperformed the market over the past one month till 16 April 2015, surging 5.97% compared with Sensex's 0.8% rise. The scrip had also outperformed the market in past one quarter, jumping 28.07% as against Sensex's 1.93% rise.

The large-cap pharma firm has equity capital of Rs 240.61 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries (Sun Pharma) had allotted 33.49 crore equity shares of Re 1 each to the shareholders of erstwhile Ranbaxy Laboratories in the ratio of eight equity shares of Re 1 each of the Sun Pharma for every ten equity shares of Rs 5 each held in erstwhile Ranbaxy Laboratories pursuant to merger of Ranbaxy with Sun Pharma.

Sun Pharmaceutical Industries' consolidated net profit fell 6.9% to Rs 1425.07 crore on 0.2% decline in net sales to Rs 4279.54 crore in Q3 December 2014 over Q3 December 2013.

Sun Pharmaceutical Industries is an international specialty pharmaceutical company.

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