Sun Pharma hits six year-high; gains 13% in last eight days on strong Q3

In Q3, the company has witnessed stronger growth than anticipated in the US, Emerging Markets and RoW.

Shares of Sun Pharmaceutical Industries were up 2 per cent at Rs 900.95, hitting an over six-year high on the BSE after a good operational performance in December quarter (Q3FY22). The stock of the drug maker was quoting higher for the eighth straight trading day having rallied 13 per cent during the period. It was trading at its highest level since October 2015.

In Q3FY22, Sun Pharma’s earnings before interest tax and depreciation and amortization (EBITDA) margins declined lower-than-expected by 80 bps year-on-year (YoY) at 26.4 per cent on the back of marginal dip in gross margins and higher