Sun Pharma raises ₹78.16 billion through two five-year bond issues

Sun Pharmaceutical reported ₹78.16 billion and ₹7,816 crore, with movement of 8.05% and 8.20% attached to those lines. Those are the figures as filed — what moves the price is how they sit against what the market already expected, not their absolute size.

Against that, the stock is +0.9% on the day at ₹1,777.70, and has returned -11.2% over three months. It sits 11% below its 52-week high. The pharma & healthcare sector has moved -0.9% over the same period, so Sun Pharmaceutical is running 10.3 points behind its peers.

For Sun Pharmaceutical, the question is how much of this is already reflected in the price and how much re-rates the pharma & healthcare peer set alongside it.