Market Update

Sun Pharma gains as good share buyback price attracts investors interest

Jun 24,2016

The announcement was made before market hours today, 24 June 2016.

Meanwhile, the S&P BSE Sensex was off 971.62 points or 3.8% at 26,030.60 slumping along with the carnage witnessed in world financial markets after Britain voted to leave the European Union (EU) results showed after Brexit Referendum.

On BSE, so far 5.76 lakh shares were traded in the counter as against average daily volume of 5.43 lakh shares in the past one quarter. The stock hit a high of Rs 765 and a low of Rs 734.10 so far during the day. The stock had hit a 52-week high of Rs 965.15 on 20 August 2015. The stock had hit a 52-week low of Rs 706.40 on 24 November 2015. The stock had underperformed the market over the past one month till 23 June 2016, falling 4.16% compared with Sensexs 7.02% rise. The scrip had also underperformed the market in past one quarter, declining 11.21% as against Sensexs 6.57% rise.

The large-cap company has equity capital of Rs 240.68 crore. Face value per share is Rs 1.

Sun Pharmaceutical Industries said that the company will buyback upto 75 lakh shares at a price of Rs 900 each. The buyback is being undertaken by the company to return surplus funds to the equity shareholders and thereby, enhancing the overall returns to shareholders. The buyback price is 19.73% premium to the closing price of Rs.751.70 yesterday, 23 June 2016. The record date for the buyback is 15 July 2016. The promoters of the company have indicated their intention to participate in the proposed buyback in such a manner that their aggregate shareholding percentage in the company will not fall below their current aggregate percentage shareholding.

Sun Pharmaceutical Industries (Sun Pharma) consolidated net profit rose 92.7% to Rs 1713.69 crore on 21.5% growth in net sales to Rs 7413.87 crore in Q4 March 2016 over Q4 March 2015.

Sun Pharmaceutical Industries is a specialty generic pharmaceutical company and Indias top pharmaceutical 

Nifty Recovered from low 7927

How many guys do you know who can accept being wrong?

How many guys do you know who can be wrong and lose money?

How many guys do you know who can be wrong. lose money and not feel bad?

How many guys do you know who can be wrong, lose money, not feel bad and reverse their position?

How many guys do you know who can be wrong, lose money, not feel bad, and reverse their position quickly?

Don’s point is that trading requires an unusual combination of emotional resilience (the ability to tolerate being wrong) and mental flexibility (the ability to use losses as information and quickly change one’s position in the markets).

Many people have a need to be right. That makes it difficult to quickly accept losses, and it makes it especially difficult to flip one’s views. The best traders don’t have a need to be right, and in fact they readily admit that there’s many times they’re wrong.

Have a Great Friday