The market capitalisation of Sun Pharmaceutical Industries Ltd. crossed Rs 2.5 lakh crore after more than seven years as its shares rose the most among Nifty 50 peers on Wednesday.
Shares of India’s largest drugmaker surged as much as 3.31% during morning trade on Wednesday after its second-quarter profit beat analysts’ estimates. Analysts expect expansion of specialty portfolio, branded generics, new drug applications in the U.S. generics market, and cost controls to aid growth.
The drugmaker’s market cap was Rs 2.54 lakh crore by noon, according to data available on Bloomberg. It was last at Rs 2.51 lakh crore on April 20, 2015.
Of the 44 analysts tracking the company, 41 maintain a ‘buy’, two suggest ‘hold’ and one recommends ‘sell’, according to Bloomberg data. The 12-month consensus price target implies an upside of 6.9%.