Shares of the largest pharmaceutical company gained 1 percent after it announced acquisition of stake in a private Healtech firm.
At 1:30 p.m the shares of Sun Pharmaceutical Industries were trading at Rs.1,130 up by 1 percent from its previous day close price and the market capitalization of the company is 2,70,668 Cr.
As per the company’s filing, Sun Pharmaceutical Industries has entered into an agreement to acquire 37.76 percent minority stake in Ezerx Health Tech Private Limited for a consideration of 28.69 Cr, and it is also acquiring an additional stake of 4.04 percent in Agatsa Software Private Limited for a consideration of 4.5 Cr, thereby increasing its stake to 30.13 percent.
In addition to this, Sun Pharmaceutical Industries has announced that U.S Food and Drug Administration(FDA) has accepted the New Drug Application for deuruxolitinib, an investigational oral selective inhibitor for the treatment of adults with moderate to severe alopecia areata.
The company’s revenue has increased by 13.53 percent from 38,654.49 Cr in FY22 to 43,885.68 Cr in FY23, accompanied by increasing profits of 3,405.82 Cr to 8,560.84 Cr.
The company has reported a return on equity (ROE) of 16.46 percent and return on capital employed (ROCE) of 17.24 percent, this indicates that the company is making good returns on its equity and capital employed.
According to the latest shareholding data available for the June 2023 quarter, the company’s Promoters hold 54.48 percent stake, the Domestic Institutional Investors hold 19.75 percent and the Foreign Institutional Investors (FII) hold 16.48 percent.
Sun Pharmaceutical Industries Ltd is the largest pharmaceutical company in India and fourth largest in the world, it is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and Active Pharma Ingredients..
Written by: Bharath K.S
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