Dilip Shanghvi And Mukesh Ambani
An increase of more than 600 points was seen in the stock on Monday. This rise was seen after three consecutive days of decline. The biggest question is who should be given credit for this rise? Should we give attention to those statements of Iran and US President Trump which smell of peace or to the good performance of the quarterly results seen today? But the story is different. Statements of peace and quarterly results may be a minor factor in some ways, but the real heroes of this rally are someone else. Who can also be called ‘Jai-Veeru’ of the stock market today.
In fact, the rise of more than 7 percent in the shares of Sun Pharma, the country’s largest pharma company, is being considered as the biggest and important reason. On the other hand, the rise of about 3 percent in the shares of the country’s largest company Reliance Industries is also a major reason for the rise in the stock market. The special thing is that there has been a joint increase of more than Rs 79 thousand crore in the valuation of both the companies. At the same time, there has been an increase of about Rs 52 thousand crore in the valuation of the country’s largest company. Let us also tell you what kind of figures have been seen from both the companies in the stock market.
Reliance Industries shares rose
Shares of the country’s largest company Reliance Industries have seen a rise of about 3 percent on Monday. According to BSE data, the company’s shares on Bombay Stock Exchange closed at Rs 1365.95 on Monday with a rise of 2.88 per cent. However, the company’s shares reached the day’s high of Rs 1,371 during the trading session. However, on Friday the company’s share had closed at Rs 1,327.65 and on Monday the company’s share had opened with a slight fall at Rs 1,326.80 and during the session the company’s share had also reached the day’s lower level of Rs 1,312. After that there was a rise in the shares of the company.
Increase in valuation by Rs 52 thousand crores
Due to the rise in the shares of the country’s largest company, there has been an increase of about Rs 52 thousand crore in the valuation of the company. If we look at the figures, the valuation of the company was seen at Rs 17,96,647.50 crore on the last trading day of last week. Which came to Rs 18,48,477.13 crore after the stock market closed on Monday. This means that there has been an increase of Rs 51,829.63 crore in the valuation of the company. If experts are to be believed, there may be further increase in the valuation of the company in the coming days.
Sun Pharma shares become rocket
Shares of Sun Pharmaceutical Industries Ltd rose 7 percent on Monday. This rise came after the announcement that the company will buy US-based Organon & Co in an all-cash deal at an enterprise valuation of US $ 11.75 billion. This is one of the largest purchases made by Indian companies abroad. The stock closed at Rs 1,733.80, up 7.03 percent on BSE. During the day, it jumped 9 percent to Rs 1,766.65. On NSE, the stock closed at Rs 1,733.50, up 6.97 per cent. Due to this rise, there was a significant increase in the valuation of the company. If we look at the figures, the market valuation of the company increased by Rs 27,306.64 crore to Rs 4,15,986.90 crore. This stock emerged as the most profitable stock among Sensex and Nifty companies.
Country’s biggest pharma deal
Sun Pharmaceutical Industries informed in a statement on Monday that Sun Pharma has entered into a definitive agreement, under which it will purchase all the outstanding shares of Organon at a price of $14 per share. This is an all-cash deal, with an enterprise valuation of $11.75 billion. Organon is a global healthcare company, which was spun off from Merck in 2021. Outside the US and Canada, Merck is known as MSD. The acquisition of Organon by Sun Pharma will be one of the largest foreign acquisitions by Indian companies. These include Tata Steel’s $12 billion acquisition of Corus in 2007 and Bharti Airtel’s $10.7 billion deal in 2010 to buy the African business of Kuwait’s Zain Telecom.
