Sun Pharmaceutical Industries is currently trading at Rs. 708.05, up by 24.50 points or 3.58% from its previous closing of Rs. 683.55 on the BSE.
The scrip opened at Rs. 691.00 and has touched a high and low of Rs. 728.45 and Rs. 678.10 respectively. So far 11,90,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 876.00 on 14-Mar-2016 and a 52 week low of Rs. 572.40 on 09-Nov-2016.
Last one week high and low of the scrip stood at Rs. 728.45 and Rs. 673.45 respectively. The current market cap of the company is Rs. 1,69,889.00 crore.
The promoters holding in the company stood at 54.39%, while Institutions and Non-Institutions held 33.97% and 11.65% respectively.
The US Food and Drug Administration (USFDA) has lifted the Import Alert imposed on Sun Pharmaceutical Industries’ Mohali (Punjab) manufacturing facility and remove the facility from the Official Action Initiated (OAI) status. This proposed action will clear the path for Sun Pharma to supply approved products from the Mohali facility to the US market, subject to normal USFDA regulatory requirements.
The Mohali facility was inherited by Sun Pharma as part of its acquisition of Ranbaxy Laboratories in 2015. The USFDA had taken action against the Mohali facility in 2013 when it ordered the facility to be fully subject to Ranbaxy’s Consent Decree of Permanent Injunction. Certain conditions of the consent decree will continue to be applicable to the Mohali facility. This development illustrates Sun Pharma’s commitment to work closely with the USFDA and strive for 100% cGMP compliance at its manufacturing facilities.