Sun Pharmaceuticalsaid its board will consider a proposal for buyback of shares on March 17, 2020.
Shares of Sun Pharmaceuticals on Friday rose over 12 percent after the company said that its board will consider the share buyback proposal.
The stock witnessed a sharp increase, spiking 12.57 percent to Rs.399.40 on the NSE. On the BSE, it jumped 11.46 percent to Rs.395.50 during the mid-session.
In year-to-date, the share price of Sun pharmaceutical has witnessed a slippage of 17.7 percent. In today’s morning, session Sun pharma stock touched its one-year-low of Rs325 in the share price amid heavy market fall. For best intraday Nifty stock tips visit the website.
Meanwhile, the benchmark indices have regained from the morning losses. The Sensex climbed higher at 34147.65, up by 1369 points and the Nifty scaled at 10020.65, up by 430 points in trade at 1.45-pm.
Meantime, the Nifty Pharma index scaled higher at 7,376.75, up by 6.25 percent. Major Gainers in the Nifty Pharma index were Sun Pharma, Aurobinda Pharma, Cipla, and Glenmark.