Sun Pharma gains on looking at high single-digit growth in consolidated topline in FY24
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Sun Pharmaceutical Industries is currently trading at Rs. 1142.80, up by 5.05 points or 0.44% from its previous closing of Rs. 1137.75 on the BSE.
The scrip opened at Rs. 1138.05 and has touched a high and low of Rs. 1145.00 and Rs. 1126.75 respectively. So far 32475 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 1155.00 on 27-Jul-2023 and a 52 week low of Rs. 855.85 on 22-Aug-2022.
Last one week high and low of the scrip stood at Rs. 1155.00 and Rs. 1085.20 respectively. The current market cap of the company is Rs. 273728.13 crore.
The promoters holding in the company stood at 54.48%, while Institutions and Non-Institutions held 36.23% and 9.29% respectively.
Sun Pharmaceutical Industries is looking at high single-digit growth in its consolidated topline this fiscal (FY24) on the back of robust performance from all its business verticals. The Mumbai-based company had reported a consolidated revenue of Rs 43,278 crore in 2022-23.
The company also expects expansion of its global specialty business to continue in the ongoing financial year. The company's R&D spending is expected to be 7-8 per cent of sales in FY24 with an increasing share of spending expected on clinical trials for specialty products.
Sun Pharmaceutical Industries is the world's fourth largest specialty generic pharmaceutical company and India's top pharmaceutical company.
