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Sun Pharma shares surge over 7 per cent, hit 52-week high

Shares of the company surged 7.09 per cent to Rs 1,066.10 on the Bombay Stock Exchange. Intra-day, the stock zoomed up by 8.47 per cent to 52-week high of Rs 1,079.90.

BT Online Bureau | May 29, 2013 | Updated 19:09 IST

Shares of Sun Pharmaceutical Industries jumped over 7 per cent on Wednesday after the company posted strong numbers for the fourth quarter ended March 31, 2013.

The company on Tuesday reported a 23.32 per cent increase in consolidated net profit for the January-March quarter.

Sun Pharma also said it will issue bonus shares to existing shareholders to mark completion of 30 years and crossing the $2 billion revenue milestone.

Shares of the company surged 7.09 per cent to Rs 1,066.10 on the Bombay Stock Exchange. Intra-day, the stock zoomed up by 8.47 per cent to 52-week high of Rs 1,079.90.

On the National Stock Exchange, the stock settled at Rs 1,066.30, up 7.03 per cent.

"Sun Pharmaceutical reported better-than-expected numbers," said Sarabjit Kour Nangra, VP-Research, Pharma, Angel Broking. The stock was the top gainer on both Sensex and Nifty.

Meanwhile, the BSE Sensex ended the day on a flat note at 20,147.64, down 13.18 points.

With inputs from PTI

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