Sun Pharma shares jump over 7%, market cap rises Rs 7,951 crore

Sun Pharma shares surged 7.11% to end at Rs 499.70 on BSE. During the day, the stock jumped 8.17% to Rs 504.70.

Shares of Sun Pharma on Monday soared over 7% after the company on Friday posted around 7% increase in consolidated net profit for the quarter ending March 31, 2018.

Drug major Sun Pharma last week posted around 7% consolidated net profit for the quarter ending March on the back of revenue growth in India and emerging markets even as the US sales took a hit. (REUTERS File Photo)

The stock surged 7.11% to end at Rs 499.70 on BSE. During the day, it jumped 8.17% to Rs 504.70.

On the NSE, shares of the company advanced by 6.54% to close at Rs 497. The company’s market valuation went up by Rs 7,951.2 crore to Rs 1,19,891.20 crore.

In terms of equity volume, 11.48 lakh shares of the company were traded on BSE and over one crore shares changed hands on the NSE during the day.

Drug major Sun Pharma last week posted around 7% increase in consolidated net profit at Rs 1,308.96 crore for the quarter ending March on the back of revenue growth in India and emerging markets even as the US sales took a hit.

The company had reported a net profit of Rs 1,223.71 crore in the same period of the previous fiscal

Total revenue from operations declined to Rs 6,977.10 crore for the fourth quarter against Rs 7,136.96 crore during the same period of 2016-17