Sun Pharma buzzing on bourses
DSIJ Intelligence / 11 Nov 2016
Sun Pharma has been gaining ever since Donald Trump won the US presidential election. The buying in the share continued even as the company declared its Q2 earnings which impressed the street.
Sun Pharma has been gaining ever since Donald Trump won the US presidential election. The buying in the share continued even as the company declared its Q2 earnings which impressed the street.
The impressive results beat estimates and the good news was cheered by investors on Thursday with follow-up buying on Friday. However, the much-awaited news on the Halol plant front did not materialise and that remained a disappointment.
The company management, however, is optimistic of positive outcome and the US FDA post inspection will help company clear the way for its products that have been filed from the Halol site.
The company's results suggested a healthy growth outlook and this has led to the stock's outperformance in the near term. Once there is clarity on the long-drawn Halol imbroglio, the stock can further improve its performance.
The stock is trading at Rs 702 per share, up by Rs 34.30 or 5.25 per cent. Over the past couple of trading sessions and considering the gains added in today’s session, the stock is up by almost 18 per cent even as markets are trending bearish.
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