Sun Pharma shares hit 52-week high on acquisition of second Israeli company
The stock rose to the 52 week high of Rs 1304.10 against the previous close of Rs 1296.40 on BSE. The share opened higher at Rs 1297.85.
- Jan 3, 2024,
- Updated Jan 3, 2024 10:53 AM IST
Shares of Sun Pharmaceutical Industries Ltd hit their 52-week high today after the pharma firm acquired 100% stake in Libra Merger Ltd., a company incorporated in Israel. The stock rose to the 52 week high of Rs 1304.10 against the previous close of Rs 1296.40 on BSE. The share opened higher at Rs 1297.85. Sun Pharma stock has gained 28.76 per cent in a year and risen 53.19 percent in two years.
A total of 0.21 lakh shares of the firm changed hands amounting to a turnover of Rs 2.66 crore on BSE. The market cap of the firm rose to Rs 3.12 lakh crore.
Sun Pharma shares have a beta of 0.3, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 76, signaling it's trading in the overbought zone. Shares of Sun Pharma are trading higher than the 5 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
Libra Merger is Sun Pharma’s second purchase of an Israeli firm after Taro Pharma. Sun Pharma said the Libra acquisition would facilitate the consolidation of business in Israel.
Also read: Stock recommendations by brokerages for January 3, 2023: Zomato, BHEL, Bank of Baroda and SBI
Libra Merger was incorporated on July 18, 2023 in Israel. Given the recent incorporation, other financial details were not applicable, the company said in an exchange filing on January 2.
Sun Pharma reported a 5% rise in its second-quarter (Q2) consolidated net profit for the financial year 2023-24 (FY24). Net profit came at Rs 2,376 crore in Q2 from Rs 2,262 crore in the year-ago period.
Sun Pharma's revenue from operations climbed 11.32% to Rs 12,192 crore in Q2 FY24 against Rs 10,952 crore in the corresponding period last year.
Also read: Adani-Hindenburg case: SC verdict out! Adani shares surge; group m-cap swells
Shares of Sun Pharmaceutical Industries Ltd hit their 52-week high today after the pharma firm acquired 100% stake in Libra Merger Ltd., a company incorporated in Israel. The stock rose to the 52 week high of Rs 1304.10 against the previous close of Rs 1296.40 on BSE. The share opened higher at Rs 1297.85. Sun Pharma stock has gained 28.76 per cent in a year and risen 53.19 percent in two years.
A total of 0.21 lakh shares of the firm changed hands amounting to a turnover of Rs 2.66 crore on BSE. The market cap of the firm rose to Rs 3.12 lakh crore.
Sun Pharma shares have a beta of 0.3, indicating low volatility in a year.
In terms of technicals, the relative strength index (RSI) of the stock stands at 76, signaling it's trading in the overbought zone. Shares of Sun Pharma are trading higher than the 5 day, 20 day, 50 day, 100 day, 150 day and 200 day moving averages.
Libra Merger is Sun Pharma’s second purchase of an Israeli firm after Taro Pharma. Sun Pharma said the Libra acquisition would facilitate the consolidation of business in Israel.
Also read: Stock recommendations by brokerages for January 3, 2023: Zomato, BHEL, Bank of Baroda and SBI
Libra Merger was incorporated on July 18, 2023 in Israel. Given the recent incorporation, other financial details were not applicable, the company said in an exchange filing on January 2.
Sun Pharma reported a 5% rise in its second-quarter (Q2) consolidated net profit for the financial year 2023-24 (FY24). Net profit came at Rs 2,376 crore in Q2 from Rs 2,262 crore in the year-ago period.
Sun Pharma's revenue from operations climbed 11.32% to Rs 12,192 crore in Q2 FY24 against Rs 10,952 crore in the corresponding period last year.
Also read: Adani-Hindenburg case: SC verdict out! Adani shares surge; group m-cap swells