Sun Pharma drops after 2-day 5.8% rally

Meanwhile, the BSE Sensex was down 71.57 points or 0.37% at 19,404.43.

On BSE, 38,000 shares were traded in the counter as against average daily volume of 54,120 shares in the past one quarter.

The stock hit a high of Rs 775.90 so far during the day, which is a record high for the counter. The stock hit a low of Rs 755.50 so far during the day. The stock had hit a 52-week low of Rs 488.25 on 2 January 2012.

The stock had outperformed the market over the past one month till 19 December 2012, surging 11.84% compared with the Sensex's 6.2% rise. The scrip had also outperformed the market in past one quarter, jumping 13.28% as against Sensex's 5.3% gain.

 

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

Shares of Sun Pharmaceutical Industries had surged 5.84% in two trading sessions to settle at Rs 761.60 on Wednesday, 19 December 2012, from Rs 719.55 on 17 December 2012, after the company after market hours on 17 December 2012, said its wholly-owned subsidiary has entered into a definitive agreement with Takeda Pharmaceuticals USA to acquire Takeda's URL Pharma, Inc. generic business.

Sun Pharmaceutical Industries said that its wholly-owned subsidiary, Caraco Pharmaceutical Laboratories, has entered into a definitive agreement with Takeda Pharmaceuticals USA, Inc, a wholly-owned subsidiary of Takeda Pharmaceutical Company, to buy the URL Pharma, Inc. generic business. Upon completion of the purchase, the non-Colcrys (colchicine, USP) generic assets of URL Pharma will be owned and managed by Caraco, Sun Pharma said in a statement. The deal is subject to satisfaction of customary closing conditions, including applicable regulatory approvals.

Sun Pharmaceuticals Industries' consolidated net profit fell 46.5% to Rs 319.64 crore on 40.3% growth in net sales to Rs 2657.24 crore in Q2 September 2012 over Q2 September 2011.

Sun Pharmaceutical Industries is an international, integrated, specialty pharmaceutical company. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in India, the United States 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 opthalmology. Sun Pharma has strong skills in product development, process chemistry, and manufacturing of complex active pharmaceutical ingredients (APIs), as well as dosage forms.

Powered by Capital Market - Live News