Sun Pharma, one of the renowned names in the Indian pharma business, saw its shares dip significantly on Friday, February 14. This comes at a time of market meltdown, wherein, on the last day of the week’s trade, the Indian indices are trading in red with deep cuts.
As far as Sun Pharma is concerned, the company has gotten some positive signs from observers, including Aditya Arora of Adlytick. in. Arora, according to an NDTV Profit report, recommended buying the stock at Rs 1,747, with a target of Rs 1,790 and a stop loss of Rs 1,700.
During the results season, the company reported a 15 per cent year-on-year (YoY) increase in its profit. Here the consolidated net profit for Q3 went to Rs 2,903 crore.
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According to Arora, in the past year, Sun Pharma stock has risen 14.86 per cent.
During the results season, the company reported a 15 per cent year-on-year (YoY) increase in its profit. Here the consolidated net profit for Q3 went to Rs 2,903 crore.
The profit figures surpassed market estimates, which had pegged the profits at Rs 2,847 crore.
In addition to the net profit, the pharma entity’s revenue grew 10 per cent YoY to Rs 13,675.5 crore in the second last quarter of FY25.
Sun Pharmaceutical Industries Ltd Shares
When we focus on the company’s stock performance on Friday, the company shares opened at Rs 1,747.35, higher than last settlement’s Rs 1,746.35.
However, the day soon soured for the company, as the share prices stumbled at Dalal Street.
The continuous decline over the span of the day’s trade took the overall slump in value to 2.85 per cent or Rs 49.75, taking the stock price value of Rs 1,696.60 per share.
Over the past 5 trading sessions, the cumulative decline stands at Rs 33.85 1.96 per cent.
When we look at the larger picture, things do not look rosy for the Mumbai-based pharma giant, as the company shares have declined by close to 2.43 per cent or Rs 42.25 per share in trading of the past 6 months.
As for the indices, the marquee, benchmark indices have lost over 1 per cent in their value.
