Shares of Sun Pharma today rose by nearly 3 per cent after the company posted better-than expected sales for the first quarter of the current fiscal.
The stock ended the day 2.90 per cent higher at Rs 866.25 on BSE. During the day, it surged 5.11 per cent to Rs 884.90.
At NSE, shares of the company rose by 2.89 per cent to Rs 866.15 per scrip.
The company's market valuation went up by Rs 5,885.55 crore to Rs 2,08,457.55 crore.
In terms of volume, 6.73 lakh shares of the company changed hands at BSE and over 52 lakh shares were traded at the NSE during the day.
"For Q1 FY16 Sun Pharmaceuticals posted results better than expected, on sales front," said Sarabjit Kour Nangra (VP Research - Pharma, Angel Broking.
Sun Pharma yesterday reported 60 per cent dip in consolidated net profit to Rs 478.96 crore for the quarter ended June 30, pulled down by impairment charges and expense of Rs 685.17 crore on account of integration and optimisation post the Ranbaxy merger.
However, total income increased to Rs 6,767.58 crore during the first quarter of 2015-16, as against Rs 6,341.21 crore in the year ago period.
