Alembic share price drops while Sun Pharma shares gain
Firstly, Alembic Pharmaceuticals share price seems to have dropped by 1.5% intraday on March 17th. Besides, the company obtained an establishment inspection report (EIR) from the US drug regulator for its facility at Karakhadi in Gujarat.
So then, the company has received EIR after a US Food and Drug Administration (USFDA) team examined the Karakhadi unit from Jan 13 to 17, 2020.
However, the Alembic company quoted at Rs 525.70, down Rs 5.40, or 1.02%. Also, the share reached its 52-week high of Rs 682.50 on Feb 20, 2020, and a 52-week low of Rs 435.10 on June 21, 2019. Hence, it stood trading at 22.97% below its 52-week high and 20.82% above its 52-weeks low.
Sun Pharmaceuticals Industries
To begin with, the company’s share price has surged by over 7% intraday today. Besides, the company board has approved the buyback of its equity shares.
So then, the company board has assured the buyback of its equity shares from the open market at a maximum price of Rs 425 per share. And the aggregate amount of up to Rs 1700 crores.
Also, the maximum number of equity shares that remain bought back under the buyback would stand up to 4,00,00,000 equity shares. Hence, this would represent up to 1.67% of the total number of equity shares of the company.
Besides, the company’s share price has quoted at Rs 382.15, up to Rs 13.35, or 3.62% on the Bombay Stock Exchange. Also, the shares reached its 52-week high of Rs 484.10. And a 52-week low of Rs 336.55 on 1st April 2019 and 13th March 2020 respectively.
Presently, it stood to trade at 21.15% below its 52-week high and 12.91% above its 52-week low.