Sun Pharmaceutical Industries rose 0.63% to Rs 796 at 11:30 IST on BSE after the company announced that its wholly owned subsidiary, Sun Pharma Laboratories has raised Rs 1000 crore on private placement basis.
The company made the announcement before market hours today, 24 December 2015.
Meanwhile, the S&P BSE Sensex was up 11.92 points or 0.05% at 25,862.22.
On BSE, so far 48,012 shares were traded in the counter as against average daily volume of 3.48 lakh shares in the past one quarter.
The stock hit a high of Rs 798.30 and a low of Rs 790.75 so far during the day. The stock had hit a record high of Rs 1,200.70 on 7 April 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015.
The stock had outperformed the market over the past one month till 23 December 2015, rising 10.07% compared with 0.12% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, declining 11.81% as against Sensex's 0.11% gains.
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The large-cap company has equity capital of Rs 240.67 crore. Face value per share is Re 1.
Sun Pharmaceutical Industries said that Sun Pharma Laboratories has raised funds by allotment of 10,000 (ICRA) AAA/stable outlook rated unsecured redeemable non-convertible debentures of a face value of Rs 10 lakh each to be listed on BSE. The funds are raised by allotting debentures under two series, with series 1 debentures comprising of 5,000 debentures amounting to Rs 500 crore with a tenor of 24 months, and series 2 debentures comprising of 5,000 debentures amounting to Rs 500 crore with a tenor of 39 months.
Sun Pharmaceutical Industries' consolidated net profit fell 46% to Rs 1106.66 crore on 14.7% decline in net sales to Rs 6803.31 crore in Q2 September 2015 over Q2 September 2014.
Sun Pharma is a specialty generic pharmaceutical company and India's top pharmaceutical company.
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