Sun Pharma Hit 52-Week Highs on NSE in Friday’s Trade
Sun Pharma hit 52-week highs on NSE in Friday’s trade amid weak market sentiment. Apart from Sun Pharma, over 35 stocks, including Infosys, ITC, Nestle India, Tech Mahindra, Divi’s Laboratories and Glenmark Pharmaceuticals hit 52 week highs on NSE.
Sun Pharmaceutical Industries Ltd was incorporated in the year 1983 and it is an international specialty pharma company. It mainly manufactures and markets pharmaceutical formulations as branded generics as well as generics in India the United States and several other markets across the world. Giant business of the company is divided into four segments: Indian Branded Generics, US Generics International, Branded Generics and Active Pharmaceutical Ingredients. The brands of company are prescribed in chronic therapy areas like cardiology psychiatry neurology gastroenterology diabetology and respiratory. Initially, the company began operations in Kolkata with just 5 products that were used to treat psychiatry ailments. Later on it set up a compact manufacturing facility for tablets/capsules at Vapi.
Godrej Consumer Products, Kaveri Seed Company, L&T Technology Services, Merck, Piramal Enterprises, Abbott India, Albert David, Atul, Torrent Pharmaceuticals, Whirlpool of India and Zensar Technologies also featured among stocks that touched 52-week highs on NSE today.
Equity market was reflecting cautious sentiment ahead of June quarter GDP numbers.
The NSE Nifty index was trading 22.15 points down at 11,654.65, while the BSE Sensex was down 84.53 points at 38,605.57 around 12:45 pm.