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Sun Pharma shares surge over 8%; m-cap rises by Rs 9,523 cr

Sun Pharma shares surge over 8%; m-cap rises by Rs 9,523 cr

New Delhi, Jun 8 (PTI) Shares of Sun Pharma surged over 8 per cent today after the US health regulator did not recommend any action against the companys Halol plant in Gujarat.

The stock jumped 8.13 per cent to settle at Rs 528.20 on BSE. Intra-day, it rose 9 per cent to Rs 532.65.

On NSE, shares of the company climbed 8 per cent to close at Rs 528.25.

The stock was the biggest gainer among blue chips on both key indices.

The companys market valuation rose by Rs 9,523.1 crore to Rs 1,26,729.10 crore.

In terms of equity volume, 16.47 lakh shares of the company were traded on BSE and over two crore shares changed hands on NSE during the day.

US health regulator USFDA has said it found objectionable conditions at Sun Pharmaceutical Industries Halol plant in Gujarat but did not recommend any action against the company.

In a notification on its website, the US Food and Drug Administration said it has issued Voluntary Action Indicated (VAI) status to the companys plant.

According to the USFDA, "objectionable conditions were found but the problems do not justify further regulatory action." PTI SUM ANS