Sun Pharma shares up nearly 3%; mcap rises by Rs 3,260 cr

Shares of Sun Pharmaceutical

Industries today rose by nearly 3 per cent, adding Rs 3,260

crore to its market valuation, after the company received

establishment inspection report (EIR) from the US health

regulator for its Dadra facility.

The stock went up by 2.59 per cent to settle at Rs 539.40

on BSE. During the day, it advanced by 4.22 per cent to Rs

548.

At NSE, shares of the company climbed 2.56 per cent to

close at Rs 539.55.

The company's market valuation rose by Rs 3,260.45 crore

to Rs 1,29,415.45 crore.

On the equity volume front, 5.72 lakh shares of the

company were traded on BSE and over 89 lakh shares changed

hands at NSE during the day.

The company said it had earlier indicated in the

regulatory filings to the bourses that it was in the process

of responding to the Form-483 observation letter issued by the

USFDA after the inspection of its Dadra facility.

"We are now pleased to inform you that the above referred

inspection is closed," Sun Pharma said in a BSE filing

yesterday.

As per the USFDA, after the completion of an inspection

of a facility, an EIR is issued to a company detailing

inspection findings.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)