LIC sells a stake worth Rs 3882 crore in Sun Pharmaceutical
Sun pharma has showcased poor 5-year growth numbers
Indian state-owned insurance group and investment company, Life Insurance Corporation of India (LIC) has sold around 2 per cent stake in India’s largest pharmaceutical company, Sun Pharmaceuticals Industries Ltd.
LIC sold its 2 per cent stake between the period of May 17, 2021, and July 22 2022. The average selling price for LIC stood at Rs 808.02 a share. LIC previously held 16,85,66,486 quantity of shares and now it holds 12,05,24,944 equity shares of Sun Pharmaceuticals, selling Rs 3,881.85 crore worth of stake in the company.
Sun Pharmaceutical Industries Ltd produces, develops, and sells a wide range of branded and generic formulations, as well as Active Pharmaceutical Ingredients (APIs). The company and its subsidiaries have about 43 manufacturing facilities worldwide. The company’s revenue can be categorized into 5 segments- India branded formulations (which contribute 31 per cent to the total revenue), US formulations (30 per cent), emerging markets (18 per cent), rest of the world (ROW) (15 per cent), and API & others (6 per cent).
Talking about company financials, the 10-year sales and net profit growth look decent at 17 per cent and 10 per cent, respectively. However, the 5-year growth numbers remain poor at 4 per cent, and -1 per cent, respectively.
The company has an ROE, ROCE, and dividend yield of 14 per cent, 18.4 per cent, and 0.81 per cent, respectively, as per the March period ending. With a market value of Rs 207,566 crore, the company's shares are currently trading at a PE multiple of 31.4x.
Regarding the shareholding structure, the promoters own about 54.48 per cent of the company, FIIs and DIIs together own 34.61 per cent, and non-institutional investors own the remaining 10.91 per cent.
The shares of Sun Pharma as of July 26 at 2:11 pm are trading at Rs 866.6.
Related articles
-
Interview with Yogesh Patil, CIO (Equity), LIC Mutual Fund Asset Management Limited
-
Shares below Rs 100: Only buyers were seen in these stocks on December 21!
-
This life science pharma stock has a ROCE of 42.2 per cent; do you hold it?
-
This news helped Aarti Drugs to surge 11 per cent on August 17
-
Stocks below Rs 100: Only buyers seen in these scrips on June 2
-
Closing bell: Market ends higher on Monday; IT, realty, and consumer durables shine, pharma drags
-
Stocks below Rs 100: Only buyers seen in these scrips on May 4
-
Stocks below Rs 100: Only buyers seen in these scrips on April 26
-
LIC gained record profits of Rs 79,19,89,74,520 in a single trading session as the stock achieves its highest single-day gain in years!
-
Interview with Jaiprakash Toshniwal, Senior Equity Research Analyst and Fund Manager, LIC Mutual Fund
-
President of India’s portfolio gains Rs 77,60,89,541 and LIC’s portfolio gains Rs 18,10,25,306 from this multibagger penny stock in just 1 day, scrip hit 52-week high!
-
LIC-backed penny stock with 1,650 per cent returns: This micro-cap company signs MoU with Philips Corporation, USA – know more here!
-
300 per cent Jump in net profit; LIC backed Multibagger company announces stellar results; Rocket rally of 250 per cent in 1 year!
-
700 per cent returns: Board announced stock split of equity shares; FIIs increased stake!
-
In an interaction with Brij Bhushan Agarwal, VCMD of Shyam Metalics & Energy Limited
-
In conversation with Saurabh Mittal, CFO of S Chand and Company Limited
-
This global biotech company receives tentative approval from US FDA!
-
Tech stock surges as it sells stake in associate company to VLCC Health Care!
-
Shares of this micro-cap company hit upper circuit as it announces their business expansion!
-
Stock in focus: Pharma company hits milestone with successful Phase I study of DRL_TC a tocilizumab biosimilar; get full story here!