Shasun Pharma surges on Sundaram Mutual Fund stake buys

Shasun Pharmaceuticals has surged 5% to Rs 151 after the Sundaram Mutual Fund bought over 250,000 shares of the company through open market transaction.

“Sundaram Mutual Fund has acquired 270,788 shares or 0.49% stake of the company through its various schemes via open market on August 21,” Shasun Pharmaceuticals said in a filing.

Post acquisition, the total holding of Sundaram Mutual Fund in pharmaceutical firm increased to 5.16% from 4.67% earlier.

The stock opened at Rs 143 and hit a five-year high of Rs 152 on the National Stock Exchange. A combined 1.02 million shares have changed hands on the counter so far.