Sun Pharmaceutical Industries rose 4.72% to Rs 698.40 at 9:25 IST on BSE after consolidated net profit surged 117.25% to Rs 2235.14 crore on 19.98% rise in total income to Rs 8384.52 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 10 November 2016.Meanwhile, the S&P BSE Sensex was down 238.09 points or 0.87% at 27,279.59.
On BSE, so far 2.91 lakh shares were traded in the counter as against average daily volume of 3.6 lakh shares in the past one quarter. The stock hit a high of Rs 699.90 and a low of Rs 680.20 so far during the day.
Dilip Shanghvi, Managing Director of Sun Pharmaceutical Industries said that the synergies from the Ranbaxy acquisition are gaining momentum and the company is on track to achieve the targeted benefits. These synergies will continue to help in funding emerging specialty businesses. Post the close of Q2 September 2016, the company has further strengthened its branded ophthalmic pipeline through the acquisition of Ocular Technologies.
Sun Pharmaceutical Industries is the world's fifth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
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