Today, the stocks of Sun Pharmaceutical Industries hit its 52-Week High by breaking its previous one of 608.55 (12 Feb 2018). Today it kissed a new level of Rs. 618.00, up by 3 percent on the BSE in intra-day trade on Thursday, just after the company announced that it has received approval for CEQUA from the United States Food and Drug Administration (FDA).
Sun Pharma rallies 7 percent as Q1 profit beats Street estimates. The Sun Pharma’s Q1FY19 revenue beat the estimates by 7 percent due to higher-than-expected revenue in the US (ex-Taro) and solid growth in India and Ems.
EBITDA beat the estimate by 4 percent which could be driven by higher revenue and lower than expected R&D costs, partially by higher COGS, according to the brokerage firm.
This rise will surely gain the interest of many existing investors of Sun Pharmaceuticals.