Sun Pharmaceutical Industries Ltd.

Sun Pharmaceutical Industries is currently trading at Rs. 741.80, up by 3.55 points or 0.48% from its previous closing of Rs. 738.25 on the BSE.

The scrip opened at Rs. 750.00 and has touched a high and low of Rs. 750.25 and Rs. 740.65 respectively. So far 40,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 965.15 on 20-Aug-2015 and a 52 week low of Rs. 706.40 on 24-Nov-2015.

Last one week high and low of the scrip stood at Rs. 842.05 and Rs. 735.30 respectively. The current market cap of the company is Rs. 1,78,311.00 crore.

The promoters holding in the company stood at 54.97% while Institutions and Non-Institutions held 35.37% and 9.66% respectively.

Sun Pharmaceutical Industries’ wholly owned subsidiaries has entered into an agreement with Frontida BioPharm, Inc. (Frontida) for divestment of its two oral solid dosage manufacturing facilities located at Philadelphia, PA, and Aurora, IL both in the US, along with 15 related pharmaceutical products. This step taken by the company is part of its manufacturing consolidation in the US.

In connection with the transaction, Frontida has agreed to continue manufacturing certain products for Sun Pharma at these facilities on a contract basis for a predetermined period. It has also agreed to offer employment to all production, quality and administrative personnel at the sites. During the divestment process, Sun Pharma was cognizant about ensuring the continued supply of quality products to patients and protecting the interests of its employees working in these units. The impact of this development on Sun Pharma’s consolidated financials and operations is not material.

Sun Pharma is the world’s fifth largest specialty generic pharmaceutical company and India’s top pharmaceutical company.