Stocks

Sun Pharma shares jump over 2.5%; mcap rises by Rs 3,260 cr

PTI New Delhi | Updated on January 08, 2018

Shares of Sun Pharmaceutical Industries today rose nearly 3 per cent, adding Rs 3,260 crore to its market valuation, after the company received establishment inspection report (EIR) from the US health regulator for its Dadra facility.

The stock went up by 2.59 per cent to settle at Rs 539.40 on BSE. During the day, it advanced by 4.22 per cent to Rs 548.On the NSE, shares of the company climbed 2.56 per cent to close at Rs 539.55.

The company’s market valuation rose Rs 3,260.45 crore to Rs 1,29,415.45 crore. On the equity volume front, 5.72 lakh shares of the company were traded on the BSE and over 89 lakh shares changed hands on the NSE during the day.

The company said it had earlier indicated in the regulatory filings to the bourses that it was in the process of responding to the Form-483 observation letter issued by the USFDA after the inspection of its Dadra facility.

“We are now pleased to inform you that the above referred inspection is closed,” Sun Pharma had said in a BSE filing yesterday.

As per the USFDA, after the completion of an inspection of a facility, an EIR is issued to a company detailing inspection findings.

Published on October 12, 2017

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