Sun Pharma gains ahead of board meet to consider share buyback

Sun Pharmaceutical Industries rose 1.64% to Rs 752 at 14:25 IST on BSE ahead of the meeting of board of directors today, 23 June 2016 for evaluating a proposal of buy back of shares.

Meanwhile, the S&P BSE Sensex was up 64.23 points or 0.24% at 26,789.83.

On BSE, so far 3.09 lakh shares were traded in the counter as against average daily volume of 5.33 lakh shares in the past two weeks. The stock hit a high of Rs 757.40 and a low of Rs 742.35 so far during the day. The stock had hit a 52-week high of Rs 965.15 on 20 August 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 22 June 2016, falling 6.58% compared with Sensex's 5.79% rise. The scrip had also underperformed the market in past one quarter, declining 12.34% as against Sensex's 5.67% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

Sun Pharmaceutical Industries' (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and India's top pharmaceutical company.

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