As Finance Minister Nirmala Sitharaman presented the Union Budget 2019, Sun Pharma stocks opened at 393.50 and closed at 380. The stocks fell by a 3.09 percent.
Follow all latest updates from Union Budget 2019 here.
The BSE group ‘A’ stock of face value Re 1 has touched a 52-week high of Rs 678.80 on 6 September 2018 and a 52-week low of Rs 350.40 on 13 May 2019.
Sun Pharma shares have lost nearly 30% in the last one year compared with a 12% rise in the benchmark Nifty 50 index. The promoter holding in the company stood at 54.38%, while Institutions and Non-Institutions held 32.86% and 12.76%, respectively.
Indian Pharmaceutical Alliance (IPA) last month said that the pharmaceutical sector in the country is aiming to grow to the size of $120-130 billion by the year 2030 from the existing $38 billion.
To achieve the goal, it said that the stakeholders need to work on accelerating the goal of universal healthcare across India and the world by providing access to high-quality affordable drugs. It added that the stakeholders also need to work on becoming the world’s largest and most reliable drugs supplier.
Sun Pharmaceutical Industries is the world’s fourth largest specialty generic pharmaceutical company and India’s top pharmaceutical company.
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