Sun Pharma extends rally, surges 7% in two days; now trades at 5-month high

Sun Pharma could see structural growth and be relatively insulated from the adverse price erosion scenario in the US, according to analysts.

Shares of Sun Pharmaceutical Industries hit a five-month high at Rs 954.25, as the stock gained 4 per cent on the BSE in Thursday’s intra-day trade. In the past two days, the stock of the country’s largest drug maker has rallied 7 per cent after the company said the acquisition of Uractiv portfolio from Fiterman Pharma in Romania closed on September 27, 2022.

Currently, Sun Pharma is trading at its highest level since April 29, 2022. It quoted close to its 52-week high level of Rs 966.90 touched on April 24. The stock has relatively outperformed most pharma stocks