{"id":110963,"date":"2023-09-29T16:05:10","date_gmt":"2023-09-29T10:35:10","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=110963"},"modified":"2023-09-29T16:05:16","modified_gmt":"2023-09-29T10:35:16","slug":"pharma-stock-jumps-3-after-company-to-acquire-remaining-25-stake-in-its-mexican-subsidiary","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/pharma-stock-jumps-3-after-company-to-acquire-remaining-25-stake-in-its-mexican-subsidiary\/","title":{"rendered":"Pharma stock jumps 3% after company to acquire remaining 25% stake in its Mexican subsidiary"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-3155917865\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Shares of the pharma company rose by 2.72 percent after the company acquired balance stakes in the subsidiary company.&nbsp;<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-1672103622\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>At 2:26, 29th september shares of <strong><a href=\"https:\/\/portal.tradebrains.in\/stock\/SUNPHARMA\/consolidated\" target=\"_blank\" rel=\"noreferrer noopener\">Sun pharmaceutical Industries Ltd<\/a><\/strong> were trading at Rs. 1163 per share which is 2.72 percent up from previous close price of Rs. 1132 per share.\u00a0<\/p><p>Such bullish stock price movement are observed after the company, through regulatory filing with the Bombay Stock Exchange (BSE) dated 29th september, informed that one of their subsidiary companies has signed a binding letter of intent to acquire the balance 25 percent outstanding shares of Sun Pharma de M\u00e9xico, a subsidiary of the Company, where the Company is currently holding 75% shares.\u00a0<\/p><p>Post- acquisition Sun Pharma de M\u00e9xico will become a wholly owned subsidiary of the company.&nbsp;<\/p><div class=\"trade-content_5\" id=\"trade-3320375977\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>Having a walkthrough at financial reports, the company\u2019s revenue increased by 9.2 percent from Rs. 10,930 crore in Q4FY23 to Rs. 11,940 crore in Q1FY24. On the other hand, the company&#8217;s net profit increased by 2 percent from Rs. 1984.4 crore in Q4FY23 to Rs. 2022.5 crore in Q1FY24.&nbsp;<\/p><p>Looking at the financial ratios, Company reported Return on equity (ROE) of 16.45 percent and return on capital employed (ROCE) of 17.24 percent in the last financial year.&nbsp;<\/p><p>Sun pharmaceuticals Industries Limited is an Indian multinational company based in Mumbai that manufactures and sell pharmaceuticals formulations and active pharmaceutical ingredients (APIs) in more than 100 countries across the globe.&nbsp;<\/p><blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p><strong>Written by Vinit Israni\u00a0<\/strong><\/p><\/blockquote><h4 class=\"wp-block-heading\" id=\"h-disclaimer\"><strong>Disclaimer<\/strong><\/h4><div class=\"wp-block-image\"><figure class=\"aligncenter size-medium\"><img decoding=\"async\" width=\"300\" height=\"300\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2022\/02\/warning-disclaimer-300x300.png\" alt=\"\" class=\"wp-image-26306\"\/><\/figure><\/div><p><strong>The views and investment tips expressed by investment experts\/broking houses\/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.<\/strong><\/p><div class=\"trade-after-content\" id=\"trade-3441582082\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Shares of the pharma company rose by 2.72 percent after the company acquired balance stakes in the subsidiary company.&nbsp; At 2:26, 29th september shares of Sun pharmaceutical Industries Ltd were trading at Rs. 1163 per share which is 2.72 percent up from previous close price of Rs. 1132 per share.\u00a0 Such bullish stock price movement [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":82826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[31,1789],"tags":[948,936,12647,12646,12648],"class_list":["post-110963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-trending-news","tag-stock-market","tag-stock-market-news","tag-sun-pharmaceutical-latest-news","tag-sun-pharmaceutical-share-price","tag-why-is-sun-pharmaceutical-share-going-up"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - 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