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Sun Pharmaceutical Industries (Sun Pharma) announced that CRISIL has reaffirmed the rating of the company's long term bank facilities at CRISIL AAA and short term bank facilities and commercial paper at CRISIL A1+.
CRISIL has placed the ‘Crisil AAA' rating on the long-term bank facilities on ‘Rating Watch with Developing Implications'. This rating action follows Sun Pharma's announcement dated 27 April 2026, about signing a definitive agreement to acquire Organon & Co. (announcement).
CRISIL has further communicated that it will remove the rating from watch and announce its final rating action post a comprehensive assessment of this acquisition.
Further, ICRA has reaffirmed the rating on the long-term bank facilities for Sun Pharma, at ICRA AAA; Stable and short-term bank facilities and commercial paper at ICRA A1+ after taking note of the announcement.
Sun Pharmaceutical Industries Ltd is up for a fifth straight session today. The stock is quoting at Rs 1814.3, up 0.33% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.43% on the day, quoting at 24100.55. The Sensex is at 77262.1, up 0.45%. Sun Pharmaceutical Industries Ltd has gained around 7.06% in last one month.
Meanwhile, Nifty Pharma index of which Sun Pharmaceutical Industries Ltd is a constituent, has gained around 7.41% in last one month and is currently quoting at 23267.7, up 0.8% on the day. The volume in the stock stood at 16.29 lakh shares today, compared to the daily average of 64.47 lakh shares in last one month.
The benchmark May futures contract for the stock is quoting at Rs 1818.4, up 0.19% on the day. Sun Pharmaceutical Industries Ltd is down 1.21% in last one year as compared to a 1.47% slide in NIFTY and a 7.7% slide in the Nifty Pharma index.
The PE of the stock is 99.41 based on TTM earnings ending December 25.
According to the company’s exchange filing, Sun Pharma would acquire 100% of Organon’s issued and outstanding shares for cash at a price of $14 per share, aggregating to approximately $3.99 billion in total equity value.
The company plans to fund the acquisition through a combination of available cash resources and committed financing from banks. The transaction is expected to close in early 2027.
Organon is a global healthcare company formed through a spinoff from Merck, known as MSD outside of the United States and Canada, in 2021.
Organon has a legacy of deep trust and strong brand equity among HCPs, patients, regulators and other stakeholders. A global leader in women’s health, the company’s portfolio includes more than 70 products across Women’s Health and General Medicines, which includes biosimilars, commercialized across 140 countries, with the U.S., Europe, China, Canada, and Brazil among its largest markets.
This global footprint is supported by six manufacturing facilities across the European Union and emerging markets, reinforcing its scale and reach.
The proposed acquisition of Organon is aligned with Sun Pharma’s strategy of growing its Innovative Medicines business. The combined company becomes a stronger player in Established Brands /Branded Generics business. The deal also enables Sun Pharma’s entry into biosimilars as a Top-10 global player. Organon’s portfolio, global footprint and strong stakeholder relationships shall complement Sun Pharma’s existing strengths and enhance long term value creation.
The combined entity would be among the top 25 global pharmaceutical companies with combined revenue of $12.4 billion. It would also become a stronger cash generating company with EBITDA and cash flow set to nearly double, supporting deleveraging from post transaction net debt-to-EBITDA of 2.3 times.
The transaction has been approved by the boards of directors of Sun Pharma and Organon and is subject to customary closing conditions, including receipt of required regulatory approvals and approval by Organon stockholders.
Dilip Shanghvi, executive chairman of Sun Pharma, said: “Organon’s portfolio, capabilities and global reach are highly complementary to our own, and we believe that bringing the two organizations together can create a stronger and more diversified platform.”
Sun Pharmaceutical Industries is engaged in the business of manufacturing, developing and marketing a wide range of branded and generic formulations and active pharmaceutical ingredients (APIs). The company and its subsidiaries has various manufacturing facilities spread across the world with trading and other incidental and related activities extending to global market. It is the largest pharmaceutical company in India.
The company has reported a 16.03% rise in consolidated net profit to Rs 3,368.81 crore on a 13.49% increase in revenue to Rs 15,520.54 crore in Q3 FY26 over Q3 FY25.
Organon is a global healthcare company formed through a spinoff from Merck, known as MSD outside of the United States and Canada, in 2021. Organon has a legacy of deep trust and strong brand equity among HCPs, patients, regulators and other stakeholders. A global leader in women's health, the company's portfolio includes more than 70 products across Women's Health and General Medicines, which includes biosimilars, commercialized across 140 countries, with the U.S., Europe, China, Canada, and Brazil among its largest markets. This global footprint is supported by six manufacturing facilities across the European Union and emerging markets, reinforcing its scale and reach. Together, Organon's General Medicines and Women's Health franchise reflect the company's commitment to advancing access and affordability for communities around the world.
The proposed acquisition of Organon is aligned with Sun Pharma's strategy of growing its Innovative Medicines business. The combined company becomes a stronger player in Established Brands /Branded Generics business. The deal also enables Sun Pharma's entry into biosimilars as a Top-10 global player. Organon's portfolio, global footprint and strong stakeholder relationships shall complement Sun Pharma's existing strengths and enhance long‑term value creation.
Upon successful consummation of the transaction, Sun Pharma is poised to be:
- Among the top 25 global pharmaceutical companies with combined revenue of US$ 12.4 billion - A leading player in Established Brands/Branded Generics - A more Innovative Medicines focused company with 27% revenue share - A top 3 company in global Women's Health, creating a commercial platform for future growth - The 7th Largest global biosimilar player - A company with presence in 150 countries, with 18 large markets, each generating over US$ 100 million revenues - A stronger cash generating company with EBITDA and cash flow set to nearly double, supporting deleveraging from post transaction Net Debt/EBITDA of 2.3x.
For the year ended 31st December, 2025, Organon reported US$ 6.2 billion in revenue and Adjusted EBITDA of US$ 1.9 billion. Organon had debt of US$ 8.6 billion and cash balance of US$ 574 million. Organon recently closed on a divestiture of a product for which it received an upfront payment of $440 million, the net proceeds of which will further contribute to its March 31, 2026 cash balance.
Coal India Ltd, Sun Pharmaceutical Industries Ltd, Cigniti Technologies Ltd and Coforge Ltd are among the other losers in the BSE's 'A' group today, 10 April 2026.
Kesoram Industries Ltd crashed 4.95% to Rs 10.38 at 14:44 IST.The stock was the biggest loser in the BSE's 'A' group.On the BSE, 3.63 lakh shares were traded on the counter so far as against the average daily volumes of 2.33 lakh shares in the past one month.
Coal India Ltd lost 4.66% to Rs 433.05. The stock was the second biggest loser in 'A' group.On the BSE, 11.98 lakh shares were traded on the counter so far as against the average daily volumes of 5.97 lakh shares in the past one month.
Sun Pharmaceutical Industries Ltd tumbled 3.88% to Rs 1650.7. The stock was the third biggest loser in 'A' group.On the BSE, 3.19 lakh shares were traded on the counter so far as against the average daily volumes of 1.15 lakh shares in the past one month.
Cigniti Technologies Ltd slipped 3.35% to Rs 1208.95. The stock was the fourth biggest loser in 'A' group.On the BSE, 1942 shares were traded on the counter so far as against the average daily volumes of 20703 shares in the past one month.
Coforge Ltd pared 3.19% to Rs 1223.95. The stock was the fifth biggest loser in 'A' group.On the BSE, 1.76 lakh shares were traded on the counter so far as against the average daily volumes of 2.79 lakh shares in the past one month.
Sun Pharmaceutical Industries Ltd dropped for a fifth straight session today. The stock is quoting at Rs 1689.8, down 0.22% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.67% on the day, quoting at 22864.2. The Sensex is at 73776.78, up 0.62%.Sun Pharmaceutical Industries Ltd has eased around 6.51% in last one month.Meanwhile, Nifty Pharma index of which Sun Pharmaceutical Industries Ltd is a constituent, has eased around 5.19% in last one month and is currently quoting at 21808.4, down 0.3% on the day. The volume in the stock stood at 22.99 lakh shares today, compared to the daily average of 28.77 lakh shares in last one month.
The benchmark April futures contract for the stock is quoting at Rs 1698, down 0.19% on the day. Sun Pharmaceutical Industries Ltd jumped 1.41% in last one year as compared to a 3.17% rally in NIFTY and a 8.74% spurt in the Nifty Pharma index.
The PE of the stock is 93.16 based on TTM earnings ending December 25.
Sun Pharmaceutical Industries Ltd is up for a fifth straight session in a row. The stock is quoting at Rs 1711.4, up 0.55% on the day as on 12:44 IST on the NSE. The benchmark NIFTY is up around 0.04% on the day, quoting at 25738.7. The Sensex is at 83674.2, down 0.08%. Sun Pharmaceutical Industries Ltd has dropped around 1.01% in last one month.
Meanwhile, Nifty Pharma index of which Sun Pharmaceutical Industries Ltd is a constituent, has dropped around 2.45% in last one month and is currently quoting at 22200.25, down 0.07% on the day. The volume in the stock stood at 22.73 lakh shares today, compared to the daily average of 31.42 lakh shares in last one month.
The benchmark February futures contract for the stock is quoting at Rs 1702.6, up 0.45% on the day. Sun Pharmaceutical Industries Ltd is down 2.36% in last one year as compared to a 8.62% spurt in NIFTY and a 1.45% spurt in the Nifty Pharma index.
The PE of the stock is 93.61 based on TTM earnings ending December 25.
Investors are gearing up for the release of the Union Budget 2026-27 today. Apart from sectoral announcements, all eyes would be on the growth projections and the fiscal deficit numbers that would be laid out by the Central Government today.
Meanwhile, traders are also closely monitoring movements in the rupee, the flow of Q3 corporate earnings, and shifting geopolitical developments, all of which could influence near-term market sentiment.
Metal, PSU bank and IT shares leading the fall while auto, private bank and pharma stocks advanced.
At 09:25 IST, the barometer index, the S&P BSE Sensex advanced 28.66 points or 0.03% to 82,298.44. The Nifty 50 index fell 18.25 points or 0.07% to 25,306.
In the broader market, the BSE 150 Mid-Cap index fell 0.77% and the BSE 250 Small-Cap index declined 0.72%.
The market breadth was positive. On the BSE, 1,566 shares rose and 1,442 shares fell. A total of 164 shares were unchanged.
Foreign portfolio investors (FPIs) had bought shares worth Rs 2,251.37 crore, while domestic institutional investors (DIIs) were net sellers to the tune of Rs 601.03 crore in the Indian equity market on 29 January 2026, provisional data showed.
Numbers to Track:
The yield on India's 10-year benchmark federal paper remain unchanged at 6.695
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 91.9350 compared with its close of 91.9950 during the previous trading session.
MCX Gold futures for 5 February 2026 settlement tumbled 9% to Rs 1,36,185.
The US Dollar Index (DXY), which tracks the greenback's value against a basket of currencies, was up 0.74% to 96.99.
The United States 10-year bond yield advanced 0.33% to 4.241.
In the commodities market, Brent crude for March 2026 settlement advanced 23 cents or 0.33% to $69.82 a barrel.
Stocks in Spotlight:
Sun Pharmaceutical Industries rallied 3.13% after the company has reported a 16.03% rise in consolidated net profit to Rs 3,368.81 crore on a 13.49% increase in revenue to Rs 15,520.54 crore in Q3 FY26 over Q3 FY25.
Bajaj Auto added 1.65% after the company’s standalone net profit increased 18.68% to Rs 2,502.81 crore on an 18.84% jump in revenue from operations to Rs 15,220.33 crore in Q3 FY26 over Q3 FY25.
AstraZeneca Pharma India shed 0.08%. The company said it has received approval from the CDSCO to import, sell, and distribute Durvalumab (Imfinzi) solution for infusion in 120 mg/2.4 mL and 500 mg/10 mL strengths.
Global Markets:
On Friday, stocks witnessed some profit taking, with technology shares remaining in a funk, even as investors largely approved of President Donald Trump’s pick of Kevin Warsh to lead the Federal Reserve.
The S&P 500 fell 0.43% to finish at 6,939.03, its third straight down day. The Dow Jones Industrial Average pulled back 179 points, or 0.36%, to settle at 48,892.47. The tech-heavy Nasdaq Composite underperformed, dropping 0.94%, to end the day at 23,461.82. All three indexes fell more than 1% at session lows.
Spot gold and silver dropped around 9% and 28%, respectively. Over the past year, gold and silver futures have soared about 67% and 142%, respectively.
Warsh’s selection was likely to ease concern about Fed independence because of his experience as a Fed governor and strong stance at times against inflation. While he is likely to push for lower rates in short term as Trump wants, the financial markets view him as someone who wouldn’t always follow the president’s direction and maintain credibility for monetary policy.