Sun Pharmaceutical Industries lost 2.93% to Rs 501.80 at 11:23 IST on BSE, with the stock sliding on profit booking after 3-day 7.13% rally.
Meanwhile, the S&P BSE Sensex was down 390.31 points or 2.1% at 18,167.82.
On BSE, 31,000 shares were traded in the counter as against average daily volume of 1.33 lakh shares in the past one quarter.
The stock hit a high of Rs 516.45 and a low of Rs 500.40 so far during the day. The stock had hit a 52-week low of Rs 321.18 on 6 September 2012. The stock hit a record high of Rs 581.40 on 31 July 2013.
The stock had underperformed the market over the past one month till 26 August 2013, declining 7.5% compared with the Sensex's 6.03% fall. The scrip had, however, outperformed the market in past one quarter, surging 6.63% as against Sensex's 5.82% fall.
The large-cap company has equity capital of Rs 207.12 crore. Face value per share is Re 1.
Shares of Sun Pharmaceutical Industries had rallied 7.13% in three trading sessions to settle at Rs 516.95 on Monday, 26 August 2013, from a recent low of Rs 482.50 on 21 August 2013.
Sun Pharmaceutical Industries' consolidated recurring net profit jumped 56% to Rs 1241 crore on 31% growth in net sales to Rs 3482 crore in Q1 June 2013 over Q1 June 2012.
The company reported consolidated net loss of Rs 1276.10 crore in Q1 June 2013, as against net profit of Rs 795.55 crore in Q1 June 2012. The net loss on consolidated basis during the quarter is on account of a provision of Rs 2517 crore towards settlement for patent infringement litigation related to generic versions of 'Protonix'.
The company's consolidated net sales grew 31% to Rs 3482 crore in Q1 June 2013 over Q1 June 2012. Adjusted for the impact of one-time sales recorded in the domestic business in Q4 March 2012, which lowered Q1 June 2012 sales, the net sales have grown by 23% year on year (YoY) in Q1 June 2013.
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, US and several other markets across the world. In India, the company is a leader in niche therapy areas of psychiatry, neurology, cardiology, nephrology, 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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