Life Insurance Corporation of India (LIC), insurance behemoth and India's biggest institutional investor, raised its stake in the pharma company Sun Pharma, taking its holding to above 5%, according to the latest exchange filing dated January 14.
LIC bought 2,02,500 shares of Sun Pharma from the open market, amounting to a 0.008% stake, from the open market on January 13. With this, LIC's stake in the blue-chip pharma stock has jumped to 5.004% from 4.996% earlier.
At the end of the September quarter, LIC held 10.12 crore shares or a 4.22% stake in the company, showed data from BSE. The December quarter shareholding pattern is yet to be released. As of the second quarter of financial year 2025-26 (FY26), promoters held 54.48% stake in Sun Pharma.
Sun Pharma share price trend
Despite the stake purchase update, shares of Sun Pharma ended in the red at ₹1700.55 on the BSE, down 1.7%. In the last one year, the pharma stock has remained flat as it declined 4%.
On a longer time frame of two years, Sun Pharma stock has rallied 28%, while in three years, it has jumped 65%. The stock offered a return of 180% in five years and 115% in ten years.
Sun Pharma financial snapshot
For the first half of the financial year, the company's sales grew 9.3% to ₹28,191.3 crore. Meanwhile, the adjusted profit (excluding exceptional items) was higher by 4.1% to ₹6114.1 crore.
The company invested ₹1685.5 crore in research and development, which is 6% of the overall sales.
Kirti Ganorkar, Managing Director of the Company, said, “India, Emerging Markets and the Rest of World led our growth for the period. US sales of Innovative Medicines have surpassed Generics for the first time during the quarter. We remain focused on broadening our portfolio while strengthening in-house talent pool and execution capability.”
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