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Sun Pharma share rises most on Sensex after Taro Pharma logs record Q3 net profit

However, Sun Pharma share price pared intra day gains to close 4.48% or 18.60 points higher at 434 level on the BSE.  The Sun Pharma share was the top Sensex gainer in trade today.

twitter-logo BusinessToday.In        Last Updated: February 7, 2019  | 17:01 IST
Sun Pharma share rises most on Sensex after Taro Pharma logs record Q3 net profit
The Sun Pharma share price rose 7.04% to Rs 444.65 intra day compared to the previous close of 415.40 on the BSE.

The Sun Pharma share closed higher in trade today buoyed by buoyed by healthy December quarter earnings posted by its subsidiary Taro Pharma. The Sun Pharma share price rose 7.04% to Rs 444.65 intra day compared to the previous close of 415.40 on the BSE. The Sun Pharma share opened higher at 415.40 and hit an intra day low of 421.10 on the BSE.

However, Sun Pharma share price pared intra day gains to close 4.48% or 18.60 points higher at 434 level on the BSE.  The Sun Pharma share was the top Sensex gainer in trade today.

Sun Pharma's US-based subsidiary Taro Pharma logged a 422 per cent year-on-year (YoY) rise in its net profit for the third quarter, whereas net sales rose by 13 per cent year-on-year.

Sun Pharma is expected to announce its December quarter earnings on Tuesday, February 12, 2019.

Also read: Sun Pharma announces structural changes in bid to repair reputation; puts out clarification

The stock has been gaining for the last two days and risen 6.03% during the period. However, the Sun Pharma stock has lost 20.90% during the last one year but gained 0.78% since the beginning of this year.

15 of 35 brokerages rate the stock "buy" or 'outperform', 10 "hold" and eight "underperform" and two "sell", according to analysts' recommendations tracked by Reuters.    

The Sun Pharma share closed above its 50-day moving average of 427.10 but below its 200-day moving avergae of 865.45 levels, respectively.

Meanwhile, the Sensex ended 4.14 points lower at 36,971.09. Nifty closed 6.95 points higher at 11,069.40.

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