Sun Pharma surges over 7%; m-cap rallies Rs 59,439 cr
Quotes

Sun Pharma surges over 7%; m-cap rallies Rs 59,439 cr

Last Updated: Monday, August 12, 2013, 19:25
 
 Comment 0
 
Sun Pharma surges over 7%; m-cap rallies Rs 59,439 cr
Mumbai: Shares of Sun Pharmaceutical Industries Monday ended with over 7 percent gain, adding Rs 59,439 crore to its market value, following about 30 percent rise in income from operations for the quarter ended June 30.

The scrip ended the day 6.60 percent higher at Rs 540.55 on the BSE. In the intra-day trade, the stock rallied 8.87 percent to Rs 552.10.

At the NSE, the stock surged 7.13 percent to Rs 541.75.

Market value of the company zoomed by Rs 59,439 crore to Rs 1,11,953 crore.

"Sun Pharma rose 7 percent after it delivered strong performance, with adjusted profit rising by about 56 percent year-on-year," said Milan Bavishi, Head Research, Inventure Growth and Securities.

"The street has been upbeat on this counter for some time now. The stock is showing some weakness in its momentum and that could result in downward pressure or sideways movement," Bavishi added.

Consolidated Q1 total income of the company rose to Rs 3,502.73 crore, from Rs 2,683.47 crore for the same period a year ago.

Sun Pharma had on Friday reported consolidated net loss of Rs 1,276.10 crore for Q1. It had posted net profit after taxes and minority interest of Rs 795.55 crore for the corresponding period in the previous fiscal.

The company had provided Rs 2,517.41 crore (previous year Rs 583.58 crore) as amount payable in terms of the settlement agreement entered on June 11, 2013, with Pfizer Inc USA, Wyeth LLC USA and Nycomed GmbH Germany.

Sales in the US were at USD 364 million for the quarter, up by 28 percent, from the corresponding period previous fiscal, accounting for 58 percent of total sales.

PTI


First Published: Monday, August 12, 2013, 19:25


Comments


comments powered by Disqus
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics
Google I/O 2014
Google I/O 2014

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved