Sun Pharma gains as board to consider internal restructuring

Sun Pharmaceutical Industries rose 1.16% at Rs 667.70 at 13:44 IST on BSE after the company said its board will meet on 10 August 2012 to consider the internal restructuring of the company's business, with effect from 31 March 2012.

The announcement was made during trading hours today, 6 August 2012.

Meanwhile, the BSE Sensex was up 193.33 points, or 1.12%, to 17,391.26.

On BSE, 31,000 shares were traded in the counter as against an average daily volume of 48,565 shares in the past one quarter.

The stock hit a high of Rs 674.55 so far during the day, which is also a record high for the counter. The stock hit a low of Rs 662.50 so far during the day. The stock had hit a 52-week low of Rs 448.20 on 4 October 2011.

The stock had outperformed the market over the past one month until 3 August 2012, rising 4.55% compared with the Sensex's 1.31% fall. The scrip had also outperformed the market in past one quarter, gaining 10.04% as against 0.27% rise in the Sensex.

The large-cap drug maker has an equity capital of Rs 103.56 crore. Face value per share is Re 1.

Sun Pharmaceutical Industries' consolidated net profit jumped 85.3% to Rs 820.21 crore on 59.2% growth in net sales to Rs 2329.93 crore in Q4 March 2012 over Q4 March 2011. The company will consider its Q1 results on 10 August 2012.

Sun Pharmaceutical Industries is an international, integrated, speciality pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, US and several other markets across the world. In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, diabetology, gastroenterology, orthopedics and ophthalmology. The company has strong skills in product development, process chemistry, and manufacturing of complex API, as well as dosage forms.

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