Sun Pharma rallies over 4%, hits all-time high on strong Taro results
Mumbai: Shares of Sun Pharmaceuticals gained as much as 4.5 per cent in trade on Monday to hit its life-time high of Rs 932, after its subsidiary Taro Pharmaceuticals reported strong set of results for quarter ended September 2014.
For quarter ended September 2014, Taro's net profit grew to $143.3 million, up 48 per cent, from $96.3 million recorded in the same period last year. Margin too grew at an healthy 63.9 per cent against 58.6 per cent, Year-on-Year.
The board of directors of Sun Pharma is schedule to meet on Thursday, November 13, 2014, to consider the un-audited financial results of the company for the second quarter ended September 30, 2014 (Q2).