Sun Pharmaceutical Industries rose 1.06% to Rs 746.55 at 9:45 IST on BSE after the company announced acquisition of Pharmalucence Inc., by one of its subsidiaries.
The announcement was made before market hours today, 16 July 2014.
Meanwhile, the S&P BSE Sensex was up 94.23 points or 0.37% at 25,322.88.
On BSE, so far 23,000 shares were traded in the counter as against average daily volume of 1.60 lakh shares in the past two weeks.
The stock hit a high of Rs 753 so far during the day, which is a record high for the counter. The stock hit a low of Rs 743 so far during the day.
Pharmalucence Inc has sterile injectable capacity in the US, supported by strong R&D capabilities.
On a consolidated basis, Sun Pharmaceutical Industries' net profit surged 56.9% to Rs 1587.12 crore on 31.6% growth in net sales to Rs 4043.57 crore in Q4 March 2014 over Q4 March 2013.
Sun Pharmaceutical Industries is an international specialty pharmaceutical company with over 75% sales from global markets. It manufactures and markets a large basket of pharmaceutical formulations as branded generics as well as generics in US, India and several other markets across the world.
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