Sun Pharma stock rises most on BSE as Q2 net profit up 90%

The Sun Pharma stock rose the most in an otherwise falling market in early trade a day after the firm reported a 90.19 per cent jump in net profit at Rs 2,471 crore for the quarter ended September 30, 2016.

The drugmaker posted a net profit of Rs 1,299.20 crore for the corresponding quarter last year.

At 10:24 am, the stock was trading 5.35 per cent higher at 702 level.

The stock opened at Rs 691 and hit a high of 708 and low of 680.20 in early trade.

It closed 3.30 per cent higher at Rs 688.95 on the BSE. The company said its revenue for the quarter jumped 20.90 per cent year on year to Rs 8,265 crore from Rs 6,837 crore in the same quarter last year.

The earnings were announced after market hours on Thursday. Around 7.73 lakh shares changed hands on the BSE in yesterday's trade.

Sun Pharma was the top loser on November 4, 2016 as it closed 7.41 percent lower, its steepest fall since 21 December 2015 after a news report the US has begun a probe on possible cartelisation.