Page 40 - Sun Pharma News Today

Stock market today: Nifty bounced back into positive territory and made yet another new high above 22200 zone.

Sun Pharma on Tuesday said that it has decided to acquire a 16.33% stake in the US-based Surgimatix for US$ 3.05 million.

Surgimatix is engaged in the business of developing a proprietary soft tissue fixation device for laparoscopic hernia repair and other minimally invasive surgeries. It is yet to commence its commercial operations, Sun Pharmaceutical Industries said in a regulatory filing.

The patent on Revlimid expires in January 2026 and the three pharma majors, which have seen strong growth on the back of this drug, are looking for other opportunities to keep their growth path. They appear to have aces up their sleeves.

While Ramesh Juneja has led Mankind Pharma for three decades, his brother Rajeev kept in tow and took charge of key operations. Suave and yet rustic, the younger Juneja has a unique style to push the 12,000-strong team of medical representatives in a fiercely competitive market and can sense the pulse of his people toiling hard.

The Sensex 30 and Nifty 50, India’s key benchmark indices, ended on the right side in Monday’s trading, shrugging off a cautious mood seen in their Asian counterparts.

The Sensex 30 and Nifty 50, India’s key benchmark indices, are poised to open the week on a mixed note on Monday, having logged a weakly gain.

The 30-share BSE Sensex benchmark climbed 281.52 points or 0.39 per cent to close at 72,708.16, while NSE Nifty ended at its all-time high of 22,122.25 points, up 81.55 points or 0.37 per cent from the previous close

With Nifty Pharma closing in on all-time high, more momentum-based trades can be expected in the short term in names such as Sun Pharma, Dr. Reddys and Cipla, say experts

Among the Sensex stocks, Bajaj Finserv, Bharti Airtel, ICICI Bank, Bajaj Finance, Sun Pharma, and Maruti closed higher, while L&T, Wipro, TCS, Tata Motors, and Axis Bank ended with cuts. The market capitalisation of all listed companies on BSE surged by Rs 2.17 lakh crore to Rs 391.7 lakh crore.