Sun Pharma in best health!

Sun Pharma has hit an all time high at Rs.1066.25 and it remains strongly in the green. Its intra day gain has been the highest since March 16th , 2012. Volumes are huge at over 2 lakh shares being traded.

The stock has hit this life time high on the back of its very good numbers for Q4FY13 and a very liberal and unexpected 1:1 bonus.

The company’s  consolidated net profit rose 23% at Rs.1012 crore and more importantly, it has given an extremely robust outlook for Fy14, expecting revenue growth of 18-20%  and it plans to spend Rs.800 crore on capex. It will also be filing 25 generic drug applications for approval in the USA.

Post these numbers, most brokerage houses have raised their ratings on the stock and also raising the target price.