Sun Pharma is shining bright; from its close of Rs.1296.40, the stock opened higher at Rs.1297.85 and went on to hit a new 52-week high at Rs.1304.10 and is currently trading at Rs.1300 levels.
Yesterday evening, the company announced that it has acquired 100% of shares of Libra Merger Ltd., a company incorporated in Israel in July’23. This acquisition is to consolidate its business in Israel.
The cost of acquisition was NIS 10.
This is Sun’s second buy in Israel, after Taro Pharma.