Minority Taro investors reject Sun Pharma's offer; stk down

Minority Taro investors have rejected Sun Pharmaceutical Industries sweetened offer of USD 39.5 per share, reports The Economic Times.

At 09:37 hrs the share was quoting at Rs 666.50, down Rs 15.55, or 2.28%. It touched an intraday high of Rs 682.05 and an intraday low of Rs 666.
 
It was trading with volumes of 13,237 shares. In the previous trading session, the share closed up 0.95% or Rs 6.45 at Rs 682.05.

The company's trailing 12-month (TTM) EPS was at Rs 13.36 per share. (Jun, 2012). The stock's price-to-earnings (P/E) ratio was 49.70. The latest book value of the company is Rs 83.13 per share. At current value, the price-to-book value of the company was 7.99. The dividend yield of the company was 0.53%.

Sun Pharmaceutical Industries board of directors in their meeting held on May 29, 2012 has recommended payment of dividend of Rs 4.25 per equity share of Re 1 each of the company for the year ended March 31, 2012 subject to the approval of the members at the ensuing Annual General Meeting of the Company. The dividend, if declared by the shareholders will be paid on or after about September 20, 2012.