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Despite Sun Pharmaceutical’s announcement to buy a 16.7% stake in US company Leandra Therapeutics for $30 million, its shares slipped this morning after hitting a 52-week high. Today Sun Pharma Rs. 1264.80 and opened at Rs. A 52-week high of 1267.95 was reached. Shortly after this the stock went up to Rs. fell to 1236.50. Around 10.30 am it was trading around Rs 1242, down 0.78%.
54704% returnIf we talk about Sun Pharma share price history, this stock has gained more than two percent in last 5 days. In the last 6 months it has returned 24.24%, while in the last one year it has returned around 26%. If we talk about its performance since January 1, 1999 till date, Sun Pharma has given excellent returns. It has increased by Rs 2.27 to Rs 1243.75 during this period. That is 54704% return in 24 years.
What’s the deal: Let us tell you that Sun Pharmaceutical Industries Limited said on Monday that it will buy 16.7% stake in US-based Leandra Therapeutics for $30 million (about Rs 250 crore). The company has entered into an agreement to acquire 16.7% stake in Massachusetts-based Leandra Therapeutics on a fully paid-up basis.
Shares of IRCTC Rs. 155 over Rs. 874 reached, buy, sell or hold
Sun Pharma gave this information to the stock market. Sun Pharmaceutical said this strategic investment will help in the development of new drug delivery technologies. The deal is expected to close by the end of December 2023.
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