Sun Pharmaceutical Industries spurted 7.09% to Rs 1,066.10 after good Q4 result and a liberal 1:1 bonus issue announced after market hours on Tuesday, 28 May 2013. The stock topped the gainers in the BSE's 'A' group.
The company's consolidated net profit rose 23.3% to Rs 1011.56 crore on 31.8% rise in net sales to Rs 3071.49 crore in Q4 March 2013 over Q4 March 2012. The company announced its Q4 results after market hours on Tuesday, 28 May 2013. The stock hit a record high of Rs 1,079.90 in intraday today, 29 May 2013.
Sun Pharmaceutical Industries said that the board of directors of the company at its meeting held on Tuesday, 28 May 2013, has recommended a liberal 1:1 bonus issue.
Pharmaceutical company IPCA Laboratories jumped 5.09% to Rs 591.15. The stock was second biggest gainer in 'A' group. The company will announce its year ended March 2013 (FY13) results on Thursday, 30 May 2013.
State-run Container Corporation of India climbed 4.31% to Rs 1,122.90. The stock was third biggest gainer in 'A' group.
Media company Sun TV Network rose 4.23% to Rs 428.50. The stock was fourth biggest gainer in 'A' group. The company's promoter Kalanithi Maran sold 78.81 lakh shares, or 2% of the total equity share capital of the company, through offer-for-sale (OFS) route on stock exchanges today, 29 May 2013. The floor price for the OFS was fixed at Rs 403 per share.
The OFS got bids for 2.50 crore shares till 15:30 IST, compared with 78.81 lakh shares on offer. The OFS was subscribed 317.37% at an indicative bid price of Rs 416.13 per share.
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As on 31 March 2013, Kalanithi Maran held 30.34 crore shares, or 77% stake, in Sun TV Network. The OFS was launched to meet market regulator Sebi's norm on minimum public shareholding. According to the Sebi norm, all private sector companies need to have minimum 25% public shareholding by 30 June 2013.
Diversified firm Piramal Enterprises rose 2.79% to Rs 567.30. The stock was fifth biggest gainer in 'A' group.
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