Dilip Shanghvi gained Rs 12,00,93,98,734 in just a single-day from this large-cap stock; scrip hits 52-week high!

Looking at the three-month trend, the stock has experienced a noteworthy surge of 22.79 per cent

Against the backdrop of positive global markets, Indian benchmark indices started strongly. However, selling pressure across various sectors, coupled with a decline in Zee Entertainment shares following the termination of the merger plan with Sony Group, led to a further downturn in the market. The day concluded near its lowest point, with indices closing 333 points or 1.54 per cent lower at 21,239, marking the lowest closing since December 20. Amidst this market turmoil, Sun Pharmaceutical Industries Ltd emerged as an exception.

On Tuesday, Sun Pharmaceutical Industries Ltd secured a position among the Top Gainers in the Nifty 50. The stock surged by nearly 4 percent, achieving a fresh 52-week high. In absolute terms, the stock witnessed an advance of Rs 52.15 per share.

In a noteworthy development, Sun Pharmaceutical Industries and Taro Pharmaceutical Industries announced a definitive merger agreement. As per the agreement, Sun Pharma, Taro's controlling shareholder, committed to acquiring all outstanding ordinary shares of Taro at USD 43 per share in cash without interest.

Sun Pharma stands as the world's fourth-largest specialty generics company, boasting a presence in Specialty, Generics, and Consumer Healthcare products. It holds the distinction of being the largest pharmaceutical company in India and a leading generic company in the US and Global Emerging Markets. Sun's Global Specialty portfolio, characterized by high growth, encompasses innovative products in dermatology, ophthalmology, onco-dermatology, contributing to over 16 percent of company sales. The company's vertically integrated operations ensure the delivery of high-quality medicines, trusted globally by physicians and consumers across more than 100 countries, with manufacturing facilities spanning six continents.

Notably, Dilip Shantilal Shanghvi, holding 9.60 percent shares of the company (equivalent to 230,285,690 shares), witnessed a substantial gain. With the stock rising by Rs 52.15 per share, the single-day trading session resulted in Dilip Shanghvi making an impressive Rs 12,00,93,98,734.

Over the past month, the stock has exhibited a robust performance, advancing by 10.83 per cent. Looking at the three-month trend, the stock has experienced a noteworthy surge of 22.79 per cent.