Sun Pharmaceutical Industries rose 1.30% to Rs 699.85 after Life Insurance Corporation of India (LIC) purchased 4.83 crore equity shares or 2.016% stake of the drug major.
Post transaction, LIC's stake in Sun Pharma has increased to 7.026% from 5.010% held earlier. The deal was executed as a market purchase between 23 June 2017 to 17 May 2021.
On a consolidated basis, the drug major reported an 87.4% jump in net profit to Rs 1,918.11 crore on 9.2% rise in net sales to Rs 8,781.84 crore in Q3 FY21 over Q3 FY20.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
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