On radar: Sun Pharma to discuss buy back

As the prolonged season of buyback continues, pharma giant Sun Pharma on June 23, will discuss the prospective buyback of outstanding equity shares.

Currently, public holding in Sun Pharma stands at 54.97 per cent. While LIC holds 3.83 per cent stake, Government of Singapore owns 1.65 per cent in the pharma major.

The shares on June 23, will be the stock to look out for as the buyback increases the Earning Per Share (EPS), which is quite favourable for the investors.

The results of the company have failed to impress. The company has reported a loss of Rs 1073 crores in Q4FY16. Earlier, in Q4FY15 the company had posted a net loss Rs 1474.13. The shares of the company are taking a dip since the results.

The shares on June 22 closed in green at Rs 739.90. The stock in the last three months has plunged by over 12 per cent. The company P/E is zero as the company Earning per Share is negative, however the industry P/E ratio stands at 25.50.

Sun Pharmaceutical Industries Ltd., is an international speciality pharma company. The company makes active pharmaceutical ingredients. In branded markets, their products are prescribed in chronic therapy areas like cardiology, psychiatry, neurology, gastroenterology, diabetology and respiratory. The company is engaged in manufacturing of product in the following therapy areas: CNS disorders, Cardiology, Diabetes and Metabolic disorders, Gastroenterology, Ophthalmology, Oncology, Pain, Allergy, Asthma and Inflammation and Gynaecological.