Sun Pharma gains 4% on earnings optimism, stock scales a 5-year high

The better traction in the specialty segment and improvement in domestic business to drive the margin expansion in Q3.

Shares of Sun Pharmaceutical Industries hit an over five-year high at Rs 871, up 4 per cent on the BSE in Thursday’s intra-day trade on expectation of good earnings growth. The stock of drug maker was trading at its highest level since March 2016. It surpassed its previous high of Rs 860 touched on January 3, 2022.

In the past one month, Sun Pharma has outperformed the market, by surging 14 per cent, on expectations that complex drug approvals in the US, outperformance in the domestic formulations, and incremental gains from anti-Covid launches in India will boost its top