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Shares of Sun Pharma surged as much as 0.59% to hit a 52-week high of ₹1,304.10 apiece on the BSE, a day after the company acquired Israel-based Libra Merger Ltd. In contrast to this, the broader BSE Sensex was trading 328.14 points or 0.46% lower at 71,564.34.
The scrip opened higher at ₹1,297.85, as against the previous closing price of ₹1,296.40. At 11:46 pm, the share price of the pharmaceutical major was trading 0.06% lower at ₹1,293.35 in line with the broader BSE Sensex. The company’s market capitalisation in early trade stood at more than ₹3.11 lakh crore with 23,328 shares exchanging hands on the BSE, as against the two-week average of 0.54 lakh shares. The company hit a 52-week low of ₹922.55 on May 22, this year.
In the past one month, three months and one year, the counter has given 5.28%, 13.51%, and 28.44%, in returns, respectively. In the year-to-date period, the counter has given 2.88% in return.
As per the regulatory filing by the pharmaceutical major, through the acquisition, Sun Pharma aims to facilitate the consolidation of business in Israel. Libra Merger Ltd was incorporated on July 18, 2023. The cost of acquisition has not been disclosed by the company.
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